Cattle futures firmed and gained on Monday, supported by currently positive fundamentals, including seasonal strength for wholesale beef values and cash fed cattle prices.
Live Cattle futures closed an average of 56¢ higher.
Feeder Cattle futures closed an average of 92¢ higher (57¢ to $1.25 higher).
Wholesale beef values were weak on Choice and firm on Select with light to moderate demand and light offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 53¢ lower Monday afternoon at $238.59/cwt. Select was 43¢ higher at $213.69.
Corn futures closed 4¢ lower through Jly ’20 and then mostly 2¢ lower.
Soybean futures closed 10¢ to 14¢ lower through Nov ’20 and then 5¢ to 9¢ lower.