Live cattle futures saw sharp $1.90 to $2.60 gains on Monday. Traders sold the rumor and bought the fact following the USDA Cattle On Feed report. Feeder cattle futures are up $3.60 in most contracts. The CME feeder cattle index is down 21 cents at $150.64. Wholesale boxed beef values are also higher this morning. Choice boxes are up $.31 cents at $213.63, while Select boxes are $1.03 higher.