Cattle futures bounced back some Monday with likely short covering.
At the close and before final settlement, Live Cattle futures were an average of $1.86 higher. Feeder Cattle futures were an average of $3.51 higher.
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 lower in the Texas Panhandle at $182/cwt., $1-$2 lower in Kansas at $182, $3 lower in Nebraska at $184 and $2 lower in the western Corn Belt at $185.
Dressed delivered prices were $3-$4 lower in Nebraska at $293 and $4 lower in the western Corn Belt at $293.
The five-area direct weighted average FOB live steer price last week was $1.89 lower at $183.84. The average dressed delivered steer price was $3.78 lower at $293.09.
Choice boxed beef cutout value was 31¢ higher Monday afternoon at $300.88/cwt. Select was $4.20 lower at $291.34/cwt.
Turning to row crops, heading into the close, Grain and Soybean futures gave back gains from the previous session with likely producer selling.
Corn futures were 3¢ to 4¢ lower through May ‘25. Kansas City Wheat futures were 4¢ to 5¢ lower through May ’25. Soybean futures were 8¢ to 15¢ lower through Jan ’25.
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