Cattle futures closed higher Monday on bullish fundamentals, following the previous session’s profit taking.
Toward the close, Feeder Cattle futures were an average of $1.82 higher. Live Cattle futures were an average of $1.48 higher.
Negotiated cash fed cattle trade ranged from inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $4 higher in the Southern Plains at $197/cwt., $3-$4 higher in Nebraska at $200 and $3-$5 higher in the western Corn Belt at $200. Dressed delivered prices were $8 higher at $315.
Last week’s five-area direct weighted average FOB live steer price was $4.12 higher at $198.93. The weighted averaged dressed delivered steer price was $7.91 higher at $314.96.
Choice boxed beef cutout value was $1.86 higher Monday afternoon at $327.10/cwt. Select was $6.61 higher at $303.33.
Grain and Soybean futures were higher Monday, buoyed by South American weather expectations.
Toward the close and through Sep ’25 contracts, Corn futures were 4¢ to 6¢ higher. Kansas City Wheat futures were 13¢ to 14¢ higher. Soybean futures were 1¢ to 8¢ higher.
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