Cattle futures were able to fade early pressure from President Trump’s announcement to waive tariffs for 90 days on imported beef products for ground beef (see below).
Live Cattle futures closed an average of 78¢ higher, except for an average of 19¢ lower in the front two contracts.
Feeder Cattle futures closed an average of $1.27 higher, except for 55¢ lower in spot Aug.
Negotiated cash fed cattle trade was light to limited on moderate demand in the North through Friday afternoon, according to the Agricultural Marketing Service.
Based on the last established trade for the week, FOB live prices were mostly $225-$226/cwt., which was $2-$3 lower in Nebraska and $3-$4 lower in the western Corn Belt. Dressed delivered trades were $6-$12 lower in Nebraska at mostly $356 and mainly $7-$13 lower in the western Corn Belt at mostly $355. FOB live prices in Kansas the previous week were $228.
Choice boxed beef cutout value was $4.24 lower Friday afternoon at $385.69/cwt. Select was $2.42 lower at $361.32. However, week to week on Friday, Choice was $10.39 higher and Select was $10.08 higher.
Estimated total cattle slaughter last week of 223,000 head was 6,000 head more than the previous week but 33,000 head less than the same week last year. Estimated year-to-date cattle slaughter of 17.4 million head was 1.5 million head fewer (-8%) than the same time a year earlier. Year-to-date estimated beef production of 15.5 billion pounds was 900.5 million pounds less (-5.5%).
Corn and Soybean futures edged higher Friday, with follow-through support from the week’s Pro Farmer yield. estimates.
Corn futures closed 5¢ higher through Jly ’27 and then 2¢ to 6¢ higher.
Soybean futures closed mostly 1¢ to 2¢ higher.
Kansas City HRW Wheat closed 3¢ to 6¢ lower through Jly ’27 and then mostly 2¢ lower.
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