Cattle futures ended Friday and the week higher, supported by the step higher in negotiated cash fed cattle prices and lower grain futures.
Live Cattle futures closed an average of $2.33 higher. Feeder Cattle futures closed an average of $4.56 higher. Week to week on Friday, Live Cattle futures closed an average of $6.35 higher, and Feeder Cattle futures were an average of $12.13 higher.
Negotiated cash fed cattle was moderate on good demand in the North through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were $1-$6 higher in Nebraska at mostly $224/cwt. and $3-$4 higher in the western Corn Belt at mostly $222-$223. Dressed delivered prices were mostly $5 higher at mainly $350.
Choice boxed beef cutout value was $2.43 lower Friday afternoon at $375.94/cwt. Select was $1.07 higher at $353.13. Week to week on Friday, Choice was 23¢ lower and Select was $2.74 lower.
Keeping Labor Day in mind, total estimated cattle slaughter last week of 505,000 head was 21,000 head fewer than the previous week and 68,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 19 million head was 1.6 million head fewer (-7.6%) than the same time last year. Estimated year-to-date beef production of 16.9 billion pounds was 923.8 million pounds less (-5.2%).
Grain and Soybean futures closed lower Friday on likely profit taking and no major surprises in the World Agricultural Supply and Demand Estimates (see below).
Soybean futures closed 28¢ to 35¢ lower through Aug ’27 and then 21¢ to 29¢ lower. Corn futures closed mostly 3¢ to 5¢ lower. Kansas City HRW Wheat futures closed 13¢ to 19¢ lower.
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