Cattle futures softened Friday with likely profit taking, wobbly negotiated cash fed cattle price and the announcement by JBS USA about the planned closure of its beef production facility in Souderton, Penn., and its value-added facility in Memphis, Tenn. Production from the affected facilities will be absorbed into other operations across its network, ensuring continuity of supply and service for customers, according to the company.
Live Cattle futures closed an average of $1.34 lower. Feeder Cattle futures closed an average of $2.10 lower.
Week to week on Friday, Feeder Cattle futures closed an average of $2.25 higher, while Live Cattle futures closed an average of 36¢ lower, except for an average of 11¢ higher in the back three contracts.
Negotiated cash fed cattle trade was mostly inactive on light demand in Kansas through Friday afternoon, according to the Agricultural Marketing Service.
Elsewhere, trade was limited on moderate demand. Although too few transactions to trend in those regions, there were some FOB live trades at $256/cwt. in the Texas Panhandle, $255 in Nebraska and $254-$256 in the western Corn Belt. Likewise, too few to trend, there were some dressed delivered trades in Nebraska at $403-$410 and in the western Corn Belt at $400-$409.
The previous week, FOB live prices were $256-$258/cwt., in Kansas and $256 elsewhere. Dressed delivered prices were mainly $405.
Choice boxed beef cutout value was $1.28 lower Friday afternoon at $391.93/cwt. Select was 53¢ lower at $372.72. Week to week on Friday, Choice was 77¢ lower and Select was $9.97 lower.
Estimated total cattle slaughter last week of 524,000 head was 9,000 head fewer than the previous week and 36,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 12.5 million head was 1.2 million head less (-9.0%). than same time last year. Estimated year-to-date beef production of 11 billion pounds was 741.1 million pounds less (-6.3%).
Grain and Soybean futures were mainly lower Friday with continued pressure from the positive weather outlook and declining war premium with news about a peace plan between the U.S. and Iran.
Corn futures closed fractionally higher to 1¢ higher, however they were an average of 6’2¢ lower through the front six contracts week to week.
Soybean futures were mostly fractionally lower to 2¢ lower. Kansas City HRW Wheat futures were mostly 2¢ to 3¢ lower.
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Major U.S. financial indices continued higher Friday, helped along by another day of believing the end to the U.S.-Iran war is in sight.
The Dow Jones Industrial Average closed 353 points higher. The S&P 500 closed 37 points higher. The NASDAQ was up 79 points.
WTI were $2.81 to $2.90 lower through the front six contracts.
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U.S. beef exports continued lower in April, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
April beef exports totaled 89,783 metric tons (mt), down 11% year over year, while value fell 5% to $780.6 million. However, April beef exports shined on a per-head basis, as export value equated to $415.88 per head of fed slaughter, up 5% from a year ago. While prospects are brightening for U.S. beef’s return to the China market, April results still reflected a near-total lockout.
Beef variety meats were a bright spot in April, with exports climbing 20% from a year ago to 25,314 mt, led by growth to top volume market Mexico, valued at $114.7 million (up 40%).
For January through April, beef and beef variety meat exports were 11% below the 2025 pace at 365,138 mt and declined 5% in value to $3.13 billion. When excluding China, exports were up slightly (+0.3%) in volume and increased 7% in value.
“Global demand for U.S. beef has proven very resilient, even in the face of tight supplies and higher prices,” says Dan Halstrom, USMEF president and CEO. “But there are certainly significant headwinds, including the impact of weak currencies in Korea, Japan and Southeast Asia, and higher energy prices weighing on consumer confidence and disposable income. And while we were thrilled to see China renew U.S. beef plant registrations following the summit meeting between President Trump and President Xi, additional obstacles must also be addressed before U.S. beef’s presence in China rebounds.”
For broader red meat perspective, U.S. pork exports in April totaled 257,212 mt, which was 8% more (nearly 20,000 mt) than the same time last year, while value increased 6% to $718.1 million.