The weekly weighted average live steer price (five-area direct) last week was $117.06/cwt., which was $4.75 higher than the previous week. The weekly weighted steer price in the beef was $3.70 higher at $183.35.
Higher outside markets, last week’s friendly Cattle on Feed report and recent cash strength helped lift Cattle futures Tuesday.
Live Cattle futures closed an average of $2.06 higher.
Feeder Cattle futures closed an average of $3.86 higher.
Choice boxed beef cutout value was $11.25 lower Tuesday afternoon at $385.49/cwt. Select was $14.16 lower at $360.02.
Corn futures closed mostly 1¢ higher.
Soybean futures closed 10¢ to 13¢ higher through Jan ’21 and then mostly 5¢ to 8¢ higher. Support included announcement of new export sales to China.