Based on USDA reports, negotiated cash fed cattle trade through Friday afternoon was looking most steady to mixed. Live prices in the Southern Plains were steady to $1 lower at $108/cwt. Dressed trade in the North was $1-$3 higher at mostly $173 in the western Corn Belt and at $173-$175 in Nebraska.
Higher Corn futures, follow-through softness in Lean Hog futures, and likely skittishness over the plant explosion at Cargill’s packing facility in Dodge City helped push Cattle futures lower Friday, but they closed off of session lows. Various reports suggest the Cargill plant will resume normal operations Monday.
Live Cattle futures closed an average of 76¢ lower (40¢ lower to $1.92 lower in spot Oct).
Feeder Cattle futures closed an average of $1.10 lower.
Wholesale beef values were steady to firm on light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 7¢ lower Friday afternoon at $218.04/cwt. Select was 44¢ higher at $193.04.
Corn futures closed mostly 2¢ to 3¢ lower through Jul ’20 and then mostly unchanged to fractionally lower.
Soybean futures closed 2¢ to 3¢ higher.
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