The five-area direct weighted average steer price was $103.12/cwt. on a live basis last week, which was $1.97 less than the prior week. The weighted average dressed price of $163.07 was $3.46 lower.
Cattle futures extended gains, though, with apparent correction from recently oversold conditions.
Live Cattle futures closed an average of $1.14 higher (75¢ to $1.65 higher).
Feeder Cattle futures closed an average of 96¢ higher (60¢ to $1.35 higher).
Choice boxed beef cutout value was $1.03 lower Tuesday afternoon at $224.82/cwt. Select was 84¢ lower at $208.46.
Corn futures closed 3¢ higher through Jly ’21 and then mostly fractionally higher to 1¢ higher.
Soybean futures closed 3¢ to 5¢ higher through Mar ’21 and then 1¢ to 2¢ higher.