Cattle futures closed lower Friday with likely week-end profit taking.
Live cattle futures closed an average of 72¢ lower (12¢ lower in spot Aug to $1.00 lower). Feeder Cattle futures closed an average of $1.39 lower.
Week to week on Friday, Live Cattle futures closed an average of 77¢ higher (12¢ higher toward the front to $1.45 higher toward the back).
Feeder Cattle futures closed mixed week to week on Friday, from an average of 96¢ lower in the front four contracts to an average of $1.62 higher.
Negotiated cash fed cattle trade ranged from mostly inactive in the Southern Plains to light on moderate demand elsewhere through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were steady to $2 higher in the Texas Panhandle at $230/cwt., steady to $1 higher in Kansas at $230-$231, steady to $1 lower in Nebraska at $240 and steady in the western Corn Belt at $240. Dressed delivered prices were steady at $380.
Choice boxed beef cutout value was 27¢ higher Friday afternoon at $373.55. Select was $2.35 lower at $351.49. Week to week on Friday, Choice was $5.09 lower and Select was $15 lower.
Estimated total cattle slaughter last week of 563,000 head was 5,000 head fewer than the previous week and 26,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 16.2 million head was 1.1 million head fewer (-6.4%) than the same time last year. Estimated year-to-date beef production of 14.1 billion pounds was 480 million pounds less (-3.3%).
Grain and Soybean futures closed higher Friday, buoyed by likely technical buying and the hotter weather outlook.
Corn futures closed 6¢ higher through Jly ’26 and then fractionally higher to 4¢ higher. Kansas City Wheat futures closed 10¢ to 11¢ higher. Soybean futures closed 6¢ to 9¢ higher.
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Major U.S. financial indices wavered Friday with more tariff rhetoric from the White House.
The Dow Jones Industrial Average closed 142 points lower. The S&P 500 closed fractionally lower. The NASDAQ was up 10 points.
West Texas Intermediate Crude Oil futures (CME) closed 1¢ higher to 20¢ lower through the front six contracts.
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Year-to-date Beef cow slaughter and total cow slaughter through June were significantly lower year of year, according to the Livestock Marketing Information Center (LMIC).
Specifically, LMIC analysts say total cow slaughter was down 12% or about 345,000 head, while beef cow slaughter was 17% less or about 100,000 head.
“The double-digit decline in total cow slaughter through June is supporting slaughter cow prices,” LMIC analysts say, in the latest Livestock Monitor. “At the start of the year, the slaughter cow price was $121.46/cwt. and steadily increased to $167.33 by the end of June, marking an increase of +38% ($45.87/cwt.). Since the recent peak price at the end of June, the slaughter cow price has moved seasonally lower with the first two weeks reported at $163.99 and $160.65.”
In the near term, they say cow slaughter is likely to continue tracking below year-ago levels, which is expected to continue supporting slaughter cow prices.