Markets got the week off to a dreary start on Monday.
Although limited on light demand early cash fed cattle sales in Nebraska were $3-$5 lower than last week at $132/cwt.
By way of review, given the lateness of fed cattle trade last week, prices were $1 lower to $1 higher on a live basis at mostly $137. Dressed trade was $1-$4 higher at $216-$220.
Cattle futures closed sharply lower on Monday, though up from session lows, with a growing sense in the market that the seasonal top is near or already in for cash fed cattle and wholesale beef values.
Live Cattle futures closed an average of $1.92 lower ($1.32 to $2.90 lower).
Feeder Cattle futures closed an average $2.38 lower ($1.92 to $2.80 lower).
Choice boxed beef cutout value was $1.31 higher Monday afternoon at $252.52/cwt. Select was $1.48 higher at $221.77.