Negotiated cash fed cattle trade was mostly inactive on very light demand in Kansas through Friday afternoon. Elsewhere, trade was at a standstill, according to the Agricultural Marketing Service.
Live prices for the week were steady to 50¢ lower in the Texas Panhandle at $117.50-$119/cwt., steady in Kansas at $119, $1-$2 lower in Nebraska at $118 and steady to $1 lower in the western Corn Belt at$118-$119. Dressed trade was $1-$2 lower in Nebraska at $188-$190 and steady to $4 lower in the western Corn Belt at $187-$190.
Feeder Cattle futures closed mostly higher Friday, but off of session highs, in the face of increasing front-month Corn futures. Live Cattle futures tagged along.
Live Cattle futures closed an average of 32¢ higher in five contracts and then unchanged to 5¢ lower
Feeder Cattle futures closed an average of 65¢ higher through the front five contracts (27¢ to $1.25 higher) and then unchanged to 27¢ lower.
Choice boxed beef cutout value was 49¢ lower at $305.88/cwt. Select was 91¢ higher at $290.27
Total estimated cattle slaughter for the week ending May 7 was 638,000 head, which was 11,000 head fewer than the previous week. Total estimated beef production of 527.3 million lbs. was 10 million lbs. less week to week.
Corn futures closed mostly 11¢ to 13¢ higher through Jly ‘22, and then mostly 2¢ to 3¢ lower.
Soybean futures closed 15¢ to 25¢ higher through May ‘22, and then mostly 9¢ to 13¢ higher.