Last week, the five-area direct weighted average steer price was $105.09/cwt. on a live basis, which was $1.50 lower than the previous week. The weighted average dressed steer price of $166.53 was $2.88 less.
Cattle futures closed higher for the first time in four sessions on Monday, despite softer wholesale beef values and the outlook for cash prices to continue lower this week; perhaps helped along by month-end position squaring.
Live Cattle futures closed an average of 61¢ higher, from 35¢ higher at the back to $1.27 higher in expiring Aug.
Feeder Cattle futures closed an average of 45¢ higher.
Choice boxed beef cutout value was $1.45 lower Monday afternoon at $227.95/cwt. Select was 46¢ higher at $215.32.
Corn futures closed mostly 1¢ to 2¢ lower.
Soybean futures closed mostly 3¢ to 5¢ higher.