Cattle futures were lower Monday but off session lows by the end of the day, despite last week’s higher cash fed cattle prices and neutral Cattle on Feed report. There were some unfounded rumors of unfounded rumors that could have spooked funds and set loose the algos early in the session, but there’s no telling.

Toward the close, Live cattle futures were an average of $1.25 lower (60¢ lower at the front to $2.27 lower at the back).

Feeder Cattle futures were an average of $1.52 lower (32¢ lower at the back to $2.07 lower at the front).

Negotiated cash fed cattle trade was mostly inactive on moderate demand in all major cattle feeding regions through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.

When the counting was finally done last week, FOB live prices were steady in the Texas Panhandle at $220/cwt., unevenly steady in Kansas at $219-$221, mostly $1-$2 higher in Nebraska at $230-$231 and mainly $1-$2 higher in the western Corn Belt at mostly $230. Dressed delivered prices were $2-$9 higher in Nebraska at $330-$367 and $2-$7 higher in the western Corn Belt at $360-$365 in a light test.

The weekly weighted average five-area direct FOB live fed steer price was 52¢ higher at $226.97/cwt. The weekly weighted average dressed delivered steer price was $4.07 higher at $361.74.

Choice boxed beef cutout value was 30¢ higher Monday afternoon at $361.85/cwt. Select was 49¢ lower at $350.84.

Corn and Wheat futures were lower Tuesday on the improved domestic weather outlook.

Toward the close and through Mar ‘26 contracts, Corn futures were 1¢ to 5¢ lower. Kansas City Wheat futures were 14¢ lower. Soybean futures were unchanged to 1¢ higher.