Cattle futures closed sharply lower on Monday, unable to maintain the foothold established at the end of last week. Pressure likely came from a variety of directions, including expectations for larger show lists of fed cattle this week and an anticipated break in wholesale beef values.
Live Cattle futures closed an average of $1.62 lower ($1.30 to $2.07 lower).
Feeder Cattle futures closed an average of $2.28 lower ($1.12 to $2.92 lower).
Choice boxed beef cutout value was 38¢ lower Monday afternoon at $249.46/cwt. Select was $1.56 higher at $221.36.