Negotiated cash fed cattle trade ranged from mostly inactive with very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Live prices last week were steady to $2 higher in the Texas Panhandle at $124-$126/cwt., $2 higher in Kansas at $126, $2-$3 higher in Nebraska at $127 and $2 higher in the western Corn Belt at $126-$127. Dressed trade was $4 higher at $200.
The five-area average direct fed steer price last week was $1.90 higher than the previous week at $126.29/cwt. on a live basis. The average steer price in the beef was $4.06 higher at $199.89.
Choice boxed beef cutout values were $1.86 higher Monday afternoon at $287.58/cwt. Select was $1.02 higher at $264.39.
Feeder Cattle futures closed an average of $2.22 lower, battered by rising Corn and Wheat futures.
Corn futures were 10¢ higher through the front four contracts and then mostly 5¢ to 7¢ higher.
K.C. Wheat futures were mostly 18¢ to 21¢ higher.
Weakness in Feeder Cattle helped pressure Live Cattle futures an average of 38¢ lower.