More bullish outside markets helped Cattle futures bounce back Monday.
Heading into the close, Live Cattle futures were an average of $1.91 higher. Feeder Cattle futures were an average of $3.87 higher.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Monday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, Live FOB prices were $2-$3 lower in the Texas Panhandle at $180-$181/cwt., $1-$2 lower in Kansas at $181, $3-$4 lower in Nebraska at $180-$181 and steady to $5 lower in the western Corn Belt at $180-$183.
Dressed delivered prices were steady to $4 lower in Nebraska at $288 and $2-$4 lower in the western Corn Belt at $286-$288.
The weighted average five-area direct FOB live steer price last week was $2.63 lower at $181.18/cwt. The weighted average dressed delivered steer price was $2.75 lower at $287.54.
Choice boxed beef cutout value was 89¢ lower Monday afternoon at $308.52/cwt. Select was $2.36 higher at $298.49.
Grain and Soybean futures were mixed Monday with apparent short covering providing support.
Toward the close and through Jly ’25 contracts, Corn futures were fractionally higher to 2¢ higher. Kansas City Wheat futures were 1¢ lower, except for 5¢ higher in spot Sep. Soybean futures were 10¢ to 14¢ higher.
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