Last week’s 5-area direct fed steer price was $2.00 lower on a live basis at $110.98/cwt. and $2.23 lower dressed at $175.73.
Softer cash prices helped pressure Cattle futures closed lower Monday, especially nearby contracts, while stronger wholesale beef values offered support.
Live Cattle futures closed an average of $1.08 lower through the front three contracts and then an average of 48¢ lower.
Feeder Cattle futures closed an average of $1.16 lower in the front two contracts and then an average of 43¢ lower.
Boxed beef cutout values were higher on good demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.82 higher Monday afternoon at $208.43/cwt. Select was $1.89 higher at $199.66.