The 5-area direct weighted average price for steers last week was $122.28/cwt. on a live basis and $195.22 in the beef. Week to week, that was $1.92 higher and $3.37 higher, respectively.
Cattle futures hovered on either side of even Monday, amid light holiday trade.
Live Cattle futures closed narrowly mixed, from an average of 16¢ lower to an average of 24¢ higher (60¢ higher in nearly spent spot Dec).
Feeder Cattle futures closed narrowly mixed, from an average of 25¢ lower across the front half of the board to an average of 37¢ higher.
Wholesale beef values were firm to higher on good demand and heavy offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 70¢ higher Monday afternoon at $209.66/cwt. Select was 84¢ higher at $205.41.
Corn futures closed fractionally lower to 1¢ lower through Mar ’21 and then mostly fractionally higher.
Soybean futures closed 8¢ to 11¢ higher through Sep ’20 and then mostly 3¢ to 5¢ higher. Presumably, support included more positive chatter about the Phase-one U.S.-China trade deal being signed as early as next week.