When all was said and done last week, negotiated cash fed cattle trade ended up mainly $3-$4 higher on a live basis—$106-$107 in the South and $107-$109 in the North—and $5 higher in the beef at $170.
The 5-area direct average steer price was $2.37 higher on a live basis last week at $107.30/cwt., according to the latest USDA report. The average dressed steer price was $169.79, which was $4.50 higher.
Live Cattle futures closed narrowly mixed Monday, while Feeder Cattle closed lower, with pressure including firm grain prices and a sharp sell-off in Lean Hog futures.
Live Cattle futures closed mixed, from and average of 28¢ lower to an average of 40¢ higher (10¢ to 90¢ higher) with the gains coming on both ends of the board.
Feeder Cattle futures closed an average of 95¢ lower (27¢ lower in spot Oct to $1.37 lower).
Wholesale beef values were lower on light demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 87¢ lower Monday afternoon at $211.09/cwt. Select was $1.01 lower at $185.91.
Corn futures closed mostly 1¢ to 2¢ higher.
Soybean futures closed mostly fractionally higher.