Cattle futures continued to climb Monday on higher cash fed cattle prices, stronger wholesale beef values and Friday’s friendly Cattle on Feed report.
Feeder Cattle futures closed an average of $1.23 higher (40¢ to $1.57 higher).
Live Cattle futures closed an average of $1.18 higher.
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 $148/cwt. in the Southern Plains, $150-$152 in Nebraska and $150 in the western Corn Belt. Dressed prices were $236 in Nebraska and $232-$236 in the western Corn Belt.
Choice Boxed beef cutout value was $4.21 higher Monday afternoon at $257.92/cwt. Select was $1.25 higher at $225.61/cwt.
Corn futures closed mostly 1¢ to 2¢ lower.
Soybean futures closed mostly 14¢ to 23¢ lower.