Cattle futures closed lower again Monday with follow-through selling supported by more bearish outside markets.  

Toward the close, Live Cattle futures were an average of $1.84 lower. Feeder Cattle futures were an average of $4.60 lower.

Negotiated cash fed cattle trade was mostly inactive on light to moderate demand in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were mostly $9 higher in the Southern Plains at mainly $255/cwt., $6-$9 higher in Nebraska at $252-$257 and $9 higher in the western Corn Belt at mostly $255. Dressed delivered prices were mostly $14 higher at mainly $400.

Last week’s five-area direct weighted average FOB live fed steer price was $8.84 higher at $255.02. The weighted average dressed delivered fed steer price was $13.08 higher at $399.08.

Choice boxed beef cutout value was $2.45 higher Monday afternoon at $391.56/cwt. Select was $3.55 higher at $380.60.

Grain and Soybean futures continued higher on Monday.

Toward the close, and through near Dec contracts, Kansas City HRW Wheat futures were 4¢ lower to 1¢ higher. Corn futures were mostly 5¢ higher. Soybean futures were 13¢ to 20¢ higher through near Nov, boosted by Soybean oil prices and hopes on upcoming trade talks with China.