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 $2 higher in the Southern Plains at $185/cwt., $1.50-$2.00 higher in Nebraska at $185-$186 and $2 higher in the western Corn Belt at $185-$186. Dressed delivered prices were $2-$8 higher in Nebraska at $292-$300 and $2 higher in the western Corn Belt at $292.
Choice boxed beef cutout value was $1.84 higher Monday afternoon at $308.88/cwt. Select was $1.45 higher at $298.88/cwt.
Cattle futures drifted mainly lower Monday.
Live Cattle futures closed an average of 27¢ lower, except for an average of 16¢ higher in the back two contracts.
Feeder Cattle futures closed an average of 85¢ lower (12¢ to $1.37 lower), except for an average of 36¢ higher in the last two contracts.
Corn futures closed fractionally higher to 2¢ higher.
KC HRW Wheat futures closed 9¢ to 13¢ higher.
Soybean futures closed mostly fractionally lower to 5¢ lower.
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