Apparently, traders viewed Friday’s Cattle on Feed report as bullish overall (see below), helping to boost Cattle futures Monday.
Live Cattle futures closed an average of $1.10 higher (55¢ to $1.32 higher).
Feeder Cattle futures closed an average of $1.92 higher $1.00-$2.97 higher).
Wholesale beef values were higher to sharply higher on moderate to good demand and light to moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.35 higher Monday afternoon at $209.28/cwt. Select was $3.42 higher at $197.66.