Cattle futures crawled higher Monday.
Feeder Cattle futures closed an average of $1.33 higher.
Live Cattle futures closed an average of 66¢ higher.
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 $4 lower in the Texas Panhandle at $181/cwt., $5 lower in Kansas at $180, $3.50 lower in Nebraska at $181.50 and $5-$7 lower in the western Corn Belt at $178-$180. Dressed delivered prices were $5 lower in Nebraska at $287 and $5-$9 lower in the western Corn Belt at $283-$287.
The weekly weighted average five-area direct fed steer price was $5.88 lower on a live basis at $179.91/cwt. The average price in the beef was $5.78 lower at $286.14.
Choice boxed beef cutout value was $2.61 lower Monday afternoon at $297.85/cwt. Select was $1.82 higher at $269.24/cwt.
Turning to row crops, Soybean futures closed mostly 20¢ to 34¢ higher Monday — dragging the grain complex along — supported by the South American weather premium and export sales to China. Corn futures closed mostly 10¢ to 13¢ higher. KC HRW Wheat closed 1¢ higher.