Feeder Cattle futures closed mixed on Monday, from an average of 27¢ lower to unchanged to an average of 48¢ higher. They were supported by weaker Corn futures but challenged by softer Live Cattle futures which closed an average of 59¢ lower, except for 5¢ higher in spot Dec.
Corn futures closed mostly 2¢ to 4¢ lower.
Soybean futures closed mostly 5¢ to 9¢ lower.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live prices were $150/cwt. in the Southern Plains $153 in Nebraska and $153-$154 in the western Corn Belt. Dressed prices were $240-$242.
Choice Boxed beef cutout value was 96¢ lower Monday afternoon at $257.98/cwt. Select was $2.06 lower at $233.21/cwt.
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