Cattle futures stepped lower Monday with apparent technical selling.
Before settlement, Live Cattle futures were an average of $1.20 lower. Feeder Cattle futures were an average of $2.75 lower.
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 $1.50-$2 higher in the Texas Panhandle at $190/cwt., $2-$3 higher in Kansas at $190, $2 higher in Nebraska at $198 and steady to $2 higher in the western Corn Belt at $196-$198. Dressed delivered prices were $2 higher at $312/cwt.
Last week’s weighted average five area direct FOB live steer price was $1.54 higher at $195.21/cwt. The weighted average dressed delivered steer price was $1.30 higher at $311.34.
Choice boxed beef cutout value was $1.04 higher Monday afternoon at $314.81/cwt. Select was $4.06 higher at $301.52/cwt.
Grain and Soybean futures closed mixed Monday.
Heading into the close, through Jly ’25 contracts, Corn futures were 2¢ to 3¢ higher. Kansas City Wheat futures were 5¢ to 7¢ higher. Soybean futures were mostly 5¢ to 10¢ lower.
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