Cattle futures and other commodities gained on Monday with the weight of a potential government shutdown averted, if only temporarily. However, Cattle futures closed a ways from session highs.
Feeder Cattle futures closed an average of $1.05 higher.
Live Cattle futures closed an average of 55¢ higher.
Grain and Soybean futures also closed higher Monday, buoyed by the averted government shutdown and new-month positioning.
Corn futures closed mostly 10¢ to 12¢ higher.
KC HRW Wheat closed mostly 11¢ to 12¢ higher.
Soybean futures closed 5¢ to 9¢ higher, except for 2¢ to 4¢ higher in the front four contracts.
Negotiated cash fed cattle trade was at a standstill in all regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were steady in the Southern Plains at $183/cwt., steady to $1 lower in Nebraska at $184 and $1-$2 lower in the western Corn Belt at $184. Dressed delivered prices were $2 lower at $290.
The five-area direct weighted average steer price last week was $183.64/cwt. on a live basis, which was $1.09 less than the previous week. The weighted average fed steer price in the beef was $1.72 lower at $290.27.
Choice boxed beef cutout value was $2.30 higher Monday afternoon at $303.08/cwt. Select was 94¢ higher at $276.98/cwt.