Feeder Cattle futures were pressured sharply lower by rising feed costs once again Monday.
Feeder Cattle futures closed an average of $2.29 lower ($1.50 lower toward the back to $3.65 lower toward the front).
Corn futures closed mostly 7¢ to 15¢ higher
Soybean futures closed mostly 22¢ to 31¢ higher.
Live Cattle futures, closed an average of 55¢ lower, except for 17¢ higher in away Apr.
Negotiated cash fed cattle ranged from limited on light demand to slow on light demand through Monday afternoon with too few transactions to trend, according to the Agricultural Marketing Service.
Live prices were at $138/cwt. In the Southern Plains, $138-$140 in Nebraska and $139-$143 in the western Corn Belt at $139-$143. Dressed prices were $222.
The five-area direct average steer price was 37¢ higher at $139.32/cwt. The average steer price in the beef was 15¢ higher at $222.61.
Choice boxed beef cutout value was 90¢ higher Monday afternoon at $268.04/cwt. Select was 82¢ lower at $261.70.
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