Grain and Soybean futures pressed higher Monday with support from higher crude oil prices and the lingering Russian war on Ukraine.
Corn futures closed 12¢ to 18¢ higher through Sep ‘23 and then mostly 6¢ to 8¢ higher.
Soybean futures closed mostly 20¢ to 24¢ higher.
Loftier grain futures helped pressure Feeder Cattle futures an average of $1.12 lower, while the upturn on wholesale beef prices helped Live Cattle to a mixed close, from 36¢ lower across the front half to an average of 28¢ higher.
Negotiated cash fed cattle trade ranged from inactive on very light demand to a standstill through Monday afternoon with too few transactions to trend, according to the Agricultural Marketing Service.
Live prices last week were at $138/cwt. in the Southern Plains and Nebraska and at $140 in the western Corn Belt. Dressed prices were at $221 in Nebraska at $222 and in the western Corn Belt.
The five-area direct average steer price last week was 80¢ higher at $139.10/cwt. The average steer price in the beef was $1.57 higher at $221.68.
Choice Boxed beef cutout value was 34¢ higher Monday afternoon at $258.50/cwt. Select was $1.85 higher at $252.50.
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