Cattle futures tried to gain early in Monday’s session but ran out of steam to close lower in what turned out to be a risk-off day in ag commodities, perhaps with some positioning at the beginning of the Goldman Roll.
Before settlement, Live Cattle futures were an average of $1.34 lower. Feeder Cattle futures were an average of $2.01 lower.
Negotiated cash fed cattle trade ranged from inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were steady in the Texas Panhandle at $190/cwt. and steady to $3 higher in Kansas at $190-$193.
The previous week, FOB live prices were $198 in Nebraska and $198-$200 in the western Corn Belt. Dressed delivered prices were $314 in Nebraska and $312-$315 in the western Corn Belt.
Choice boxed beef cutout value was 4¢ higher Monday afternoon at $330.47/cwt. Select was 34¢ lower at $304.72/cwt.
Grain and Soybean futures lost ground Monday, with added pressure from more moisture in the forecast. Toward the close and through Jly ’25 contracts, Corn futures were 12¢ to 17¢ lower. Kansas City Wheat futures were 14¢ to 21¢ lower. Soybean futures were 15¢ to 30¢ lower.
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