Bottom picking and a rally in Lean Hog futures were credited with some of the support that helped Cattle futures regain some stability in the wake of Friday’s sharp decline.
Other than an average of 27¢ higher in the front two contracts and 50¢ higher at the back, Live Cattle futures closed an average of 11¢ lower.
Except for 15¢ higher in the back contract, Feeder Cattle futures closed an average of 65¢ lower.
Wholesale beef values were firm to higher on moderate to fairly good demand and light to moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 35¢ higher Monday afternoon at $215.55/cwt. Select was $1.67 higher at $200.39.