Cattle futures closed lower Monday, with pressure including Friday’s bearish monthly Cattle on Feed report.
Live Cattle closed an average of $1.09 lower (67¢ to $1.52 lower).
Feeder Cattle futures closed an average of $1.60 lower (50¢ to $2.37 lower).
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $2 higher in the Southern Plains at $188/cwt., $2-$3 higher in Nebraska at $190 (a few up to $191) and $2-$3 higher in the western Corn belt at $190-$191 (a few up to $191.50). Dressed delivered prices were $2-$7 higher in Nebraska at $302 and $4 higher in the western Corn Belt at $302.
The weighted average five-area direct FOB live steer price last week was $2.09 higher at $189.56/cwt. The dressed delivered steer price was $4.07 higher at $302.13.
Choice boxed beef cutout value was 17¢ higher Monday afternoon at $310.89/cwt. Select was 49¢ higher at $301.96/cwt.
Corn futures closed mostly unchanged to fractionally lower.
KC HRW Wheat futures closed mostly 1¢ to 2¢ higher.
Soybean futures closed 10¢ to 16¢ higher through Jly ’25, and then mostly 8¢ to 9¢ higher, supported by edible oils.
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