Cattle futures continued lower on Monday, with last week’s wobbly cash fed cattle prices and lower wholesale beef values.
Toward the close, Live Cattle futures were an average of $1.34 lower. Feeder Cattle futures were an average of $1.96 lower.
Negotiated cash fed cattle trade was inactive on light demand in the North through Monday afternoon, according to the Agricultural Marketing Service.
FOB live prices last week were mainly steady to $2 lower in Nebraska at $220-222/cwt. and mostly unevenly steady to $2 lower in the western Corn Belt at mainly $219-$222. Dressed delivered prices were steady to $5 lower in Nebraska at mostly $345 and steady in the western Corn Belt at $345-$350.
The Texas Cattle Feeders Association reported its members trading fed cattle steady at $226.
The weekly weighted average five-area direct FOB live fed steer price was 87¢ lower at $219.80. The weekly weighted average dressed delivered fed steer price was $1.67 lower at $346.26.
Choice boxed beef cutout value was $4.07 higher Monday afternoon at $378.26/cwt. Select was $4.08 higher at $358.57.
Grain and Soybean futures were mixed on Monday.
Through late afternoon, and through the front four contracts, Soybean futures were mostly 2¢ to 3¢ higher. Kansas City HRW Wheat futures were 6¢ to 7¢ higher with likely increased war premium. Corn futures were mostly fractionally mixed.
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