Cattle futures were higher Monday, shrugging off Friday’s Cattle on Feed report, supported by high cash trade.
Toward the close, Live Cattle futures were an average of 24¢ higher. Feeder Cattle futures were an average of 86¢ 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-$3 higher in the Texas Panhandle at $190-$191/cwt., mostly $2 higher in Kansas at mainly $190 and $2-$3 higher in the North at mostly $190. Dressed delivered prices were $2 higher in Nebraska at $298 and $2-$4 higher in the western Corn Belt at $298-$300 in a light test.
Choice boxed beef cutout value was $1.26 higher Monday afternoon at $323.50/cwt. Select was $2.90 lower at $292.18.
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