Cattle futures, already weakened by last week’s lower cash fed cattle trade and Choice wholesale beef values, crumbled Monday with another round of panic selling tied to Highly Pathogenic Avian Influenza (HPAI) in dairy cows linked to a rare case in humans (see below).

Live Cattle closed an average of $4.91 lower (45¢ lower at the back to $6.10 lower).

Feeder Cattle futures closed an average of $6.91 lower.

Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Services.

Last week, FOB live prices were $2 lower in the Texas Panhandle at $186/cwt., $2-$3 lower in Kansas at $185-$186, steady to $1lower in Nebraska at $189-$190 and $1-$2 lower in the western Corn belt at $188-190. Dressed delivered prices were steady to $3 lower in Nebraska at 299-$302 and $2-$3 lower in the western Corn Belt at $299-300.

The five-area weighted average FOB live steer price last week was $1.33 lower at $188.23/cwt. The weighted average dressed delivered steer price was $2.64 lower at $299.49.

Choice boxed beef cutout value was 98¢ lower Monday afternoon at $305.74/cwt. Select was $1.64 lower at $301.79/cwt.

Corn futures closed 1¢ to 6¢ lower through Sep ’25 and then mostly fractionally lower.

KC HRW Wheat futures closed mostly 5¢ to 9¢ lower.

Soybean futures closed mostly 2¢ to 5¢ lower.