Cattle futures bounced higher Monday, likely due in part to the U.S. standing pat on Brazilian beef import tariffs, at least for now.

Toward the close, Live Cattle futures were an average of $2.33 higher. Feeder Cattle futures were an average of $5.73 higher.

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

Last week, FOB live prices were $4 lower in the Texas Panhandle at $233/cwt.; $4-$5 lower in Kansas at $232-$233, $2-$5 lower in Nebraska at $230 and mainly $2 lower in the western Corn Belt at $230. Dressed delivered prices were $5 lower at $360.

The five-area direct weighted average FOB live fed steer price was $1.89 lower at $230.76. The weighted average dressed delivered fed steer price was $5.33 lower at $359.64.

Choice boxed beef cutout value was $1.07 higher Monday afternoon at $363.64/cwt. Select was $2.59 higher at $347.97.

Grain and Soybean futures were mixed to start the week.

Toward the close and through Jly contracts, Corn futures were 1¢ to 2¢ higher. KC HRW Wheat were 1¢ to 2¢ lower. Soybean futures were mostly fractionally lower to 1¢ lower.