Cattle futures firmed Friday.
Live Cattle futures were an average of $2.74 higher. However, they were an average $6.97 lower week to week on Friday. That’s about an average $23.09 lower over the past three weeks.
Feeder Cattle futures were an average of $2.36 higher on Friday but an average of $13.38 lower week to week and about an average of $51.78 lower over the past three weeks.
Negotiated cash fed cattle trade were mostly inactive on moderate demand in all cattle feeding regions through Friday afternoon, according to the Agricultural Marketing Service.
So far this week, FOB live prices were $3-$4/cwt. lower in the Texas Panhandle at $232 and $3-$5 lower in Kansas at $232. FOB live prices were unevenly steady in Nebraska at $230-$230.50 and mostly $2 lower in the western Corn Belt at mostly mainly $228. Dressed delivered prices were steady to $1 lower in Nebraska at $357-$360 and steady to $3 lower in the western Corn Belt at $355-$360.
Choice boxed beef cutout value was $1.56 lower Friday afternoon at $376.40/cwt. Select was 33¢ higher at $361.09. Week to week on Friday, Choice was $1.73 lower but Select was $2.44 higher.
Grain futures and were lower Friday, while Soybean futures closed higher.
Corn futures were mostly 1¢ lower. KC HRW Wheat futures were mostly 5¢ to 6¢ lower. Soybean futures were 5¢ to 10¢ higher through near Aug and then 3¢ to 4¢ higher.
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