Cattle futures closed mixed on Monday, as traders sorted through Friday’s bearish Cattle on Feed report, in tandem with the surge in negotiated cash fed cattle prices.

Before settlement, Live Cattle futures were an average of $1.48 higher in the front two contracts and then narrowly mixed, from an average of 19¢ lower to an average of 13¢ higher. Feeder Cattle futures were an average of 22¢ higher, except for unchanged to an average of 15¢ lower in three contracts.

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

Last week, FOB live prices were $3-$4 higher in the Texas Panhandle at $189-$190/cwt. and $2-$5 higher in Kansas at $188-$191 with some as high as $198. FOB live prices were steady to $2 higher in Nebraska at $197-$198 and $3-$4 higher in the western Corn Belt at $197-$198.

Dressed delivered prices were $5-$6 higher in Nebraska at $310-$312 and $4-$5 higher in the western Corn Belt at $310, but with prices stretching as high as $314.

The weighted average five-area direct FOB live steer price last week was $2.29 higher at $194.84/cwt., which was $12.27 higher year over year. The weighted average dressed delivered steer price was $5.08 higher week to week at $310.55; it was $20.74 higher year over year.

Choice boxed beef cutout value was 25¢ higher Monday afternoon at $322.64/cwt. Select was $1.96 higher at $305.07/cwt.

Turning to row crops, grain futures edged lower Monday, while Soybean futures gained.

Heading into the close, through Jly contracts, Corn futures were mostly 1¢ lower. Kansas City Wheat futures were mostly 2¢ lower to fractionally higher. Soybean futures closed were 8¢ to 13¢ higher.