Negotiated cash fed cattle trade was mostly inactive on very light demand in the western Corn Belt through Monday afternoon, according to the Agricultural Marketing Service. Elsewhere, it was at a standstill.
Last week, live prices were at $122/cwt. in the Southern Plains and $124 in the North. Dressed prices were at $195.
Cattle futures closed narrowly mixed Monday, supported by improving fundamentals but balanced by declining wholesale beef values and weaker Lean Hog futures.
Live Cattle futures closed an average of 23¢ lower.
Feeder Cattle futures closed an average of 47¢ higher, from 7¢ higher at the front to $1.12 higher toward the back.
So far this morning, both are higher.
Choice boxed beef cutout value was $2.08 lower Monday afternoon at $321.20/cwt. Select was $2.15 lower at $281.46.
Although new-Crop Corn futures eased Monday, overall Corn and Soybean futures were supported by weaker crop conditions (Good and Excellent) week over week and year over year.
Corn futures closed mostly 6¢ to 9¢ lower through new-crop contracts, and generally 3¢ to 5¢ higher in other contracts.
Soybean futures closed mostly 6¢ to 9¢ higher in new-crop contracts and mostly 13¢ to 22¢ higher in the others.