Cattle futures softened to start the week, extending losses from the previous session. Pressure included last week’s softer cattle prices, light trade and demand uncertainty.
Other than 7¢ to 22¢ higher in the front three contracts, Live Cattle futures closed an average of 66¢ lower (15¢ lower to $1.10 lower at the back).
Feeder Cattle futures closed an average $1.17 lower.
Choice boxed beef cutout value was $6.90 lower Monday afternoon at $254.58/cwt. Select was $15.30 lower at $231.12.
Corn futures closed 2¢ higher.
Soybean futures closed mostly 1¢ lower through Aug ‘21 and then mainly 3¢ higher.