Negotiated cash fed cattle trade last week ended up steady to $1 lower in the Southern Plains at $99-$100/cwt., and steady to as much as $5 lower in Nebraska and the western Corn Belt at $100-$102. Dressed trade was $3-$8 lower in the western Corn Belt at mostly $160. It was $7-$10 lower in Nebraska at $155-$160.
Week to week on Monday, the 5-area direct average steer price was $1.66 lower on a live basis at $100.07/cwt. It was $6.66 less in the beef at $159.17.
Light trade, last week’s lower cash prices and the stronger dollar all helped dampen interest in Cattle futures Monday.
Live Cattle futures closed an average of 51¢ lower.
Except for 5¢ higher in spot Sep, Feeder Cattle futures closed an average of 67¢ lower.
Wholesale beef values were weak to lower on light demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 26¢ lower Monday afternoon at $220.62/cwt. Select was $2.03 lower at $196.57.
Although they closed off of session highs, Corn and Soybeans continued higher.
Corn futures closed mostly 3¢ to 4¢ higher.
Soybean futures closed 1¢ to 3¢ higher.