Cattle futures closed lower Monday, hamstrung by more negative outside markets, this time tied to war between Israel and Hamas.
Feeder Cattle futures closed an average of $1.68 lower.
Live Cattle futures closed an average of $1.07 lower.
Negotiated cash fed cattle trade ranged from inactive on very light demand to a standstill through Monday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $1 lower in the Southern Plains at $182/cwt. and $1 lower in the north at $183. Dressed delivered prices were steady to $2 lower at $288-$290.
Choice boxed beef cutout value was $1.41 higher Monday afternoon at $303.42/cwt. Select was $1.72 higher at $277.50/cwt.
Corn and Soybean futures closed lower on harvest pressure.
Corn futures closed 1¢ to 3¢ lower.
Soybean futures closed mostly 4¢ to 6¢ lower.
KC HRW Wheat closed mostly 12¢ higher on geopolitical risk.
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