Cattle futures rallied Monday, helped along by stronger cash fed cattle prices last week, as well as Friday’s bullish Cattle on Feed report.
Live Cattle futures closed an average of $1.54 higher ($1.05 to $2.62 higher).
Feeder Cattle futures closed an average of $2.03 higher ($1.77 to $2.70 higher).
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 52¢ lower Monday afternoon at $216.45 cwt. Select was 88¢ lower at $190.84.
Corn futures closed 1¢ to 2¢ higher.
Soybean futures closed 5¢ to 9¢ higher through Sep ’20 and then mostly 1¢ to 2¢ higher.