Cattle futures were unable to extend gains from the previous session, apparently pressured once again, in part by demand concerns.

Before settlement, Live Cattle futures closed an average of 80¢ lower.

Feeder Cattle futures were an average of $1.79 lower.

Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $2 lower in the Texas Panhandle at $186/cwt. and mostly $2-$3 lower in Kansas at $185-$187, where live delivered prices were $190-$190.50. FOB live prices are $3 lower in Nebraska at $193 and mainly $2-$3 lower in the western Corn Belt at mostly $193. Dressed delivered prices were $5 lower at $305.

The weighted average five-area direct FOB live steer price last week was $3.11 lower at $191.34. The weighted average dressed delivered steer price was $5.59 lower at $304.01.

Choice boxed beef cutout value was $3.12 higher Monday afternoon at $315.83/cwt. Select was $1.58 higher at $300.17/cwt.

Turning toward the close on Monday, Corn futures were 4¢ to 6¢ higher with support from lower than expected carryover in the monthly World Agricultural Supply and Demand Estimates (see below).

Through Jly ’25 contracts, Kansas City Wheat futures were were 5¢ to 6¢ lower. Soybean futures were mostly 12¢ to 16¢ lower.