Cattle futures basically paddled in place Monday, looking for further direction and amid firmer Corn futures.
Feeder Cattle futures closed an average of 33¢ lower, except for 25¢ higher in the back contract.
Live Cattle futures closed mixed, from an average of 15¢ lower to an average of 19¢ higher.
Negotiated cash fed cattle trade was at a standstill in all regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were steady to $1 higher in the Southern Plains at $183/cwt., steady in Nebraska at $184-$185 and steady to $1 higher in the western Corn Belt at $185-$186. Dressed delivered prices were steady at $292.
The weighted average five-area direct fed steer price was 69¢ higher on a live basis at $184.73/cwt. and 15¢ higher in the beef at $291.99.
Choice boxed beef cutout value was $1.85 lower Monday afternoon at $301.48/cwt. Select was 2¢ higher at $280.45/cwt.
Grain and soybean futures strengthened on Monday.
Corn futures closed 2¢ to 4¢ higher.
KC HRW Wheat closed mostly 3¢ to 4¢ higher.
Soybean futures closed mostly 3¢ to 5¢ higher.
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