Cattle futures closed higher Friday, and on the week, buoyed by steady to stronger early negotiated cash fed cattle prices.
Live Cattle futures closed an average of 96¢ higher.
Feeder Cattle futures closed an average of $1.98 higher, with gains likely capped by wonderment about when the U.S. border will re-open to Mexican feeder cattle imports.
For the week, Live Cattle futures closed an average of $1.99 higher, except for 37¢ lower in the back contract. Feeder Cattle futures closed an average of $2.33 higher on the week.
Negotiated cash fed cattle trade was limited on moderate demand in the North through Friday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend at the time, there were some FOB live trades at $250/cwt. in the North. The previous week, FOB live prices were mostly $245 in Nebraska and the western Corn Belt and dressed delivered prices were mainly $385.
Trade was inactive on moderate demand in the Southern Plains. For the week, FOB live prices were steady to $1 higher in the Texas Panhandle at $246, the same as in Kansas the previous week.
Choice boxed beef cutout value was 19¢ lower Friday afternoon at $380.90/cwt. Select was 23¢ lower at $381.34. For the week, Choice was $7.14 lower and Select was $7.03 lower.
Estimated total cattle slaughter last week of 512,000 head was 21,000 head fewer than the previous week and 52,000 head fewer than the same week last year. Estimated year-to-date cattle slaughter of 7.6 million head was 846,000 head fewer (-10%). Year-to-date estimated beef production of 6.8 billion pounds was 551.8 million pounds less (-7.5%).
Grain futures were lower Friday.
Kansas City HRW Wheat futures closed mostly 1¢ to 3¢ lower, with traders likely removing weather premium on the more optimistic moisture outlook.
Corn futures closed 1¢ to 3¢ lower, pressured by the larger global ending stocks revealed in the recent World Agricultural Supply and Demand Estimates, lower crude oil prices and the improved weather outlook for planting. Corn futures closed 11’7¢ lower through the front six contracts for the week. Those contracts were an average of 25¢ lower over the past two weeks.
Soybean futures closed 5¢ to 10¢ higher through Aug ’27, supported by apparent growing optimism concerning U.S.-China trade talks scheduled for next month.
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Major U.S. financial indices closed mixed Friday, amid uncertainty about the ceasefire between the U.S. and Iran and related opening of the Strait of Hormuz.
The Dow Jones Industrial Average closed 269 points lower. The S&P 500 closed 7 points lower. The NASDAQ was up 80 points.
West Texas Intermediate Crude Oil futures (CME) closed $1.30 lower to 79¢ higher through the front six contracts.
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Domestic retail beef prices increased year over year in March, while retail chicken and pork prices softened, according to the Livestock Marketing Information Center (LMIC).
“The all-fresh retail beef price was $9.55 per pound in March, softening from $9.64 per pound in February but an increase of $1.12 per pound (+13%) from last year,” LMIC analysts explain, in the latest Livestock Monitor. “Ground beef was reported at $6.86 per pound in March, up $0.73 per pound (+12%) from last year. Rounds increased $1.06 per pound (+12%) from last year to $9.61 per pound in March but fell slightly by $0.49 per pound from the prior month. Steaks were reported at $12.73 per pound in March and on par with the prior month but increased $1.75 per pound compared to the prior year.”
On the other side of the fence, the March retail pork price of $4.87 per pounds was 2% less year over year and the lowest level since February 2025, according to LMIC. The March retail composite broiler price was also 2% less year over year at $2.41.