Fundamentals appeared to return to Cattle futures trade Monday as prices gained back some of the recent losses.

Toward the close, Live Cattle futures were an average of $2.34 higher. Feeder Cattle futures were an average of $5.36 higher.

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

Last week, FOB live prices were $2-$3 lower in the Texas Panhandle at $235-$236/cwt. in a light test, $1-$3 lower in Kansas at $235-$237 in a light test, $7 lower in Nebraska at $228-$232 and $5-$9 lower in the western Corn Belt at mostly $230. Dressed delivered prices were mainly $10-$12 lower at $358-$360.

The five-area direct weighted average FOB live fed steer price was $7.03 lower at $230.86. The weighted average dressed delivered fed steer price was $10.76 lower at $358.54.

Choice boxed beef cutout value was $1.12 higher Monday afternoon at $379.25/cwt. Select was $1.28 higher at $359.93.

Soybean futures gained again Monday, riding the coattails of last week’s announced trade framework between the United States and China. Toward the close and through Jly contracts, Soybean futures were 14¢ to 20¢ higher.

KC HRW Wheat futures were 8¢ to 13¢ higher with chatter about potential Chinese business.

Corn futures were 3¢ to 4¢ higher.