Cattle futures gained again Monday, supported by further erosion in Corn futures.
Feeder Cattle futures closed an average of 79¢ higher (27¢ to $1.32 higher).
Live Cattle futures closed mixed, from an average of 7¢ lower to an average of 11¢ higher.
Corn futures closed mostly 2¢ to 6¢ lower.
Soybean futures closed fractionally mixed 1¢ lower.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
For the week, live prices were at $155/cwt. in the Southern Plains, $157-$159 in Nebraska, $157 in Colorado and $157-$158 in the western Corn Belt. Dressed prices were $248-$249.
Choice Boxed beef cutout value was $6.62 lower Monday afternoon at $243.31/cwt. Select was $3.45 lower at $221.11/cwt.
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