Cattle futures found some footing Monday, helped along by the firmer boxed beef cutout values.
Toward the close, Live Cattle futures were an average of 21¢ higher, except for unchanged in spot Dec and $1.00 higher at the back of the board. Feeder Cattle futures were an average of 87¢ higher.
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, FOB live prices were $3 lower in the Southern Plains at $187/cwt. and $3-$4 lower in Nebraska at $186-$187 and $2-$5 lower in the western Corn Belt at $185-$188. Dressed delivered prices were $2-$4 lower in Nebraska at $294 and $4 lower in the western Corn Belt at $294.
The weighted average five-area direct FOB live fed steer price last week was $3.29 lower at $186.53. The weighted average dressed delivered fed steer price was $3.84 lower at $293.13.
Choice boxed beef cutout value was 28¢ higher Monday afternoon at $308.21/cwt. Select was $2.65 higher at $281.84.
Grain and Soybean futures were lower Monday, presumably pressured by a higher U.S. dollar, farmer selling and sharply lower crude oil prices.
Toward the close and through Sep ’25 contracts, Corn futures were 1¢ to 3¢ lower. Kansas City Wheat futures were 3¢ to 5¢ lower. Soybean futures were 5¢ to 9¢ lower.
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