The five-area direct average steer price last week was $101.21/cwt. on a live basis, according to the Agricultural Marketing Service. That was $1.91 less than the prior week. The average steer price in the beef of $160.66 was $2.41 less.
Cattle futures took a step higher Monday, building on last week’s gains, tied to the outlook for slightly snugger supplies and support from lean hog prices, which appear ready to advance, on South Korea and China banning pork exports from Germany, due to African Swine Fever discovered in that nation.
Live Cattle futures closed an average of $1.20 higher (77¢ to $1.80 higher).
Feeder Cattle futures closed an average of $1.75 higher ($1.50 to $2.02 higher).
Choice boxed beef cutout value was $2.68 lower Monday afternoon at $217.21/cwt. Select was 66¢ higher at $207.76.
After 7¢ higher in spot Sep, Corn futures closed mostly fractionally mixed to 1¢ lower.
After 13¢ higher in spot Sep, Soybean futures closed 4¢ to 8¢ higher.