Last week’s 5-Area direct price for steers and heifers ended up right at $1/cwt. lower on a live basis, according to USDA data. Steers averaged $1.01 lower at $127.14. Heifers were $1.06 lower at $126.95. In the beef, steers were 82¢ lower at $204.25; heifers were 69¢ lower at $204.09.
Cattle futures meandered mostly higher Monday with continuing support from Lean Hog futures and a major question mark regarding the impact of last week’s bomb cyclone that hit a wide swath of the Plains.
Other than 77¢ lower in spot Apr and 35¢ lower in away Jun, Live Cattle futures closed an average 30¢ higher.
Except for 62¢ and 12¢ lower in Apr and May, respectively, Feeder Cattle futures closed an average of 32¢ higher.
Corn futures closed mostly 1¢ lower through Sep ’20 and then fractionally higher.
Soybean futures closed mostly 2¢ to 3¢ lower.
Wholesale beef values were higher on good demand and light offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.34 higher Monday afternoon at $228.33/cwt. Select was 87¢ higher at $218.21.