Negotiated cash fed cattle prices moved higher on Friday, after a softer feel the day before. Live sales in the Southern Plains were $2-$3 higher than the previous week at $124/cwt., on active trade and good demand. There were too few transactions to trend elsewhere, but demand was strong, suggesting higher prices in the Northern Plains and western Corn Belt, too.
That and significantly higher wholesale beef values week to week helped lift Cattle futures late in the session.
Live Cattle futures closed an average of $1.81 higher through the front five contracts ($1.02 to $2.65 higher) and then an average of 41¢ higher.
Except for 42¢ lower in Mar, Feeder Cattle futures closed an average of 97¢ higher (22¢ to $1.75 higher).
Choice boxed beef cutout value was $1.59 higher Friday afternoon at $221.74/cwt. Select was 16¢ lower at $204.42.
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