Cattle futures sank lower again Monday, tracing the selloff in outside markets.
Before settlement, Live Cattle futures were an average of $3.58 lower. Feeder Cattle futures closed were average of $6.57 lower.
Negotiated cash fed cattle trade ranged from inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $2 lower in the Texas Panhandle at $188/cwt., $2 lower to $7 higher in Kansas at $188-$195, $2 lower in Nebraska at $196 and $2 lower in the western Corn Belt at $194-$196. Dressed delivered prices were $2 lower at $310/cwt.
The weighted average five-area direct FOB live steer price was 76¢ lower last week at $194.45/cwt. The weighted average dressed delivered steer price was $1.74 lower at $309.60.
Wholesale beef prices did rebound Monday, with Choice boxed beef cutout value $4.17 higher in the afternoon at $317.94/cwt. Select was 85¢ higher at $282.34.
Grain and soybean futures extended gains Monday. Heading into the close, through Jly ’25 contracts, Corn futures were 3¢ to 4¢ higher. Kansas City Wheat futures were 2¢ to 3¢ higher. Soybean futures were mostly 11¢ to 15¢ higher.
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