Negotiated cash fed cattle trade was active on very good demand in the North through Friday afternoon, according to the Agricultural Marketing Service. FOB live prices were $7 higher in Nebraska at $210-$212/cwt. and $6-$7 higher in the Western Corn Belt at $210-$212. Dressed delivered prices were $6-$8 higher In Nebraska at $328-$330 (a few up to $339) and $8-$10 higher in the western Corn Belt at $330 (a few up to $338).
Trade in the Southern Plains was mostly inactive on light demand with too few transactions to trend. For the week FOB live prices were steady in Kansas at $201. The previous week, FOB live prices were steady in the Texas Panhandle at $201.
Choice boxed beef cutout value was $3.04 lower Friday afternoon at $327.92/cwt. Select was 92¢ lower at $316.29. Week to week, Choice was $5.77 lower and Select was $3.54 lower.
Sharply higher cash fed cattle prices helped Cattle futures continue their upward trend on Friday.
Feeder Cattle futures were an average of $2.12 higher ($1.15 to $3.00 higher). Live Cattle futures were an average of $1.11 higher (10¢ higher to $3.67 higher in spot Feb).
Week to week on Friday, Live Cattle futures closed an average of $4.02 higher across a broad range and Feeder Cattle futures closed an average of $5.29 higher across a broad range.
Corn and Soybean futures retreated Friday on likely profit taking and Argentina’s reduction in export taxes for domestic producers.
Corn futures were mostly 2¢ to 3¢ lower through Jly ’26 and then 1¢ lower.
Soybean futures were 7¢ to 9¢ lower through near Aug and then mostly 3¢ lower.
Kansas City Wheat futures were 10¢-11¢ lower through May ’26.
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Major U.S. financial indices closed lower Friday with likely profit taking from the week’s strong gains.
The Dow Jones Industrial Average closed 140 points lower. The S&P 500 closed 17 points lower. The NASDAQ was down 99 points.
West Texas Intermediate Crude Oil futures on the CME were 4¢ higher to 21¢ lower through the front six contracts.
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Markets will likely view the latest monthly Cattle on Feed report as friendly with fewer placements than expected and total cattle on feed coming in on the lighter side of expectations.
Feedlots with 1,000 head or more capacity placed 1.64 million head in December, which was 3.3% less year over year and 5.1% less than average pre-report expectations.
In term of placement weights, 47% went on feed weighing 699 pounds or less, 40% weighing 700-899 pounds and 13% weighing 900 pounds or more.
Marketings in December of 1.74 million head l% more than the same time last year and 0.3% less than expectations.
Cattle on feed Jan. 1 of 11.8 million head were 107,000 head fewer year over year (-0.9%), which was 0.8% less than expectations.
Although 3% less year over year, heifers and heifer calves accounted for 39% of the on-feed inventory.