Besides lower cash fed cattle prices and wholesale beef values, analysts credited rising grain prices for the pressure on Feeder Cattle futures Monday. Pressure spilled over into front-month Live Cattle, too. Keep in mind, trade was light in both pits with the shorter trading hours.
Live Cattle futures closed an average of 36¢ lower through the front four contracts (10¢ to 55¢ lower) and then and average of 26¢ higher (7¢ to 65¢ higher).
Feeder Cattle futures closed an average of $1.24 lower (85¢ to $1.82 lower).
Choice boxed beef cutout value was $1.84 lower Monday afternoon at $222.89/cwt. Select was 97¢ lower at $207.45.