Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Live prices last week were $1 higher in the Southern Plains at $133/cwt., $1-$2 higher in Nebraska at $133-$134, steady to $2 higher in the western Corn Belt at $132-$134 and steady to $3 higher in Colorado at $132-$135. Dressed trade was $3 higher at $210.
Cattle futures gained some traction Monday with support from last week’s stronger cash prices and the neutral Cattle on Feed report.
Feeder Cattle futures closed an average of 62¢ higher, except for unchanged in the back contract, amid light trade.
Live Cattle futures closed an average of 68¢ higher, from 32¢ higher at the back to $1.27 higher toward the front.
Choice boxed beef cutout value was 84¢ higher Monday afternoon at $279.25/cwt. Select was 10¢ lower at $263.73/cwt.
Corn futures closed mostly 4¢ to 7¢ higher, riding wheat’s coattails.
Soybean futures closed 7¢ to 11¢ higher through the front six contracts, and then mostly 4¢ to 5¢ higher.