Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were at $123-$124/cwt. in the Southern Plains, $124-$126 in Nebraska and $124-$127 in the western Corn Belt. Dressed trade was at $198-$203.
Last week’s five-area direct average steer price was $124.79/cwt. on a live basis, which was 64¢ less than the previous week. The average steer price in the beef was 97¢ lower at $200.82.
Widespread reports of an overnight for at the JBS packing facility in Grand Island, Neb. — apparently halting production, at least for Monday — shoved already faltering Cattle futures lower. Overall weakness in commodity markets also contributed pressure.
Feeder Cattle futures closed an average of $2.09 lower.
Live Cattle futures closed an average of $1.06 lower
Choice boxed beef cutout value was 57¢ lower Monday afternoon at $247.59/cwt. Select was 82¢ lower at $218.01/cwt.
Corn futures closed mostly 4¢ lower through Jly ’22 and then 1¢ to 2¢ lower.
Soybean futures closed mostly 1¢ lower through Aug ’22 and then fractionally higher to 2¢ higher.