Cattle futures closed lower Monday after early strength as traders appear cautious about Friday’s next Cattle on Feed report, as well as lingering future demand concerns.
Feeder Cattle futures closed an average of $1.13 lower.
Live Cattle futures closed an average 39¢ lower, except for 7¢ higher in spot Oct.
Negotiated cash fed cattle trade was at a standstill through Monday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $1 higher in the Southern Plains at $182/cwt. and $2 higher in in the North at $185. Dressed delivered prices were $2-$4 higher in Nebraska at $292 and steady to $4 higher in the western Corn Belt at $290-$292.
The five-area direct weighted average fed steer price last week was $184.30/cwt., which was $1.58 higher than last week. The average fed steer price in the beef was $2.57 higher at $291.83.
Corn futures closed mostly 3¢ lower.
Soybean futures closed 3¢ to 6¢ higher.
KC HRW Wheat closed mostly fractionally lower to 1¢ lower.