Cattle futures took a breather Monday as traders appeared to await further cash direction.
Live Cattle futures closed an average of 80¢ lower (32¢ to $1.77 lower).
Feeder Cattle futures closed an average of $1.47 lower (80¢ to $2.40 lower).
Negotiated cash fed cattle trade was at a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $183/cwt. in the Southern Plains, $183-$184.50 in Nebraska and $183-$184 in the western Corn Belt. Dressed delivered prices were $290.
The five-area direct weighted average FOB live steer price last week was 35¢ higher at $183.30/cwt. The average dressed delivered price was $1.25 lower at $290.36.
Choice boxed beef cutout value was $1.02 higher Monday afternoon at $306.30/cwt. Select was 57¢ lower at $295.17/cwt.
Corn futures closed mostly 3¢ to 5¢ higher.
KC HRW Wheat futures closed mostly 7¢ to 10¢ higher.
Soybean futures closed mostly 4¢ to 6¢ higher.
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