Futures and equity markets were closed Monday in observance of Martin Luther King, Jr.
Negotiated cash fed cattle prices were at a standstill through Monday afternoon, according to the Agricultural Marketing Service. Last week, they wobbled on either side of steady. FOB live prices were steady to $1 lower in the Southern Plains at $172/cwt., steady to $2 lower in Nebraska at $173. and steady in the western Corn Belt at $175. Dressed delivered prices were 50¢ to $2 lower in Nebraska at $272-$275 and steady to $1 higher in the western Corn Belt at $275 on a light test.
Last week’s weighted average five-area direct FOB live steer price was 54¢ lower at $173.47. The weighted average dressed delivered fed steer price was $1.08 lower at $273.70.
Choice boxed beef cutout value was $2.16 higher Monday afternoon at 291.42/cwt. Select was 71¢ higher at $272.56/cwt.
POWERED BY BLUBRRY
