Cattle futures stepped back from recent gains on Monday with likely profit taking and technical selling.

Toward the close, Live Cattle futures were an average of 81¢ lower, except for 17¢ higher in spot Dec. Feeder Cattle futures were an average of $2.76 lower.

Negotiated cash fed cattle trade was mostly inactive on light 70 moderate demand through Monday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $5 higher in Kansas at $225/cwt., $10-$15 higher in Nebraska at $220-$225 and $10-$12 higher in the western Corn Belt at $220. Dressed delivered prices were $10-$15 higher in Nebraska at $340-$345 and $12-$15 higher in the western Corn Belt at $340-$345.

There was no reported established weekly in the Texas Panhandle last week. FOB live prices the previous week were $215-$220.

The five-area direct weighted average FOB live fed steer price last week was $9.68 higher at $221.21. The weighted average dressed delivered fed steer prices was $13.23 higher at $342.61.

Choice boxed beef cutout value was 30¢ lower Monday afternoon at $360.90/cwt. Select was $1.21 higher at $348.60.

Grain and Soybean futures were lower on Monday.

Toward the close and through Jly contracts, Soybean futures were 7¢ to 11¢ lower. Corn futures were fractionally lower to 2¢ lower. KC HRW Wheat futures were 3¢ to 5¢ lower.