Cattle futures extended gains Friday.
Live Cattle futures were an average of 79¢ higher. Feeder Cattle futures were an average of 53¢ higher, except for 25¢ lower in the back contract.
Week to week on Friday, Live Cattle futures closed an average of $2.01 higher, and Feeder Cattle futures closed an average of $6.22 higher.
Negotiated cash fed cattle trade was limited on moderate demand in Kansas and Nebraska through Friday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend, there were some FOB live trades at $258/cwt.
Elsewhere, trade was mostly inactive on moderate demand.
Based on established trade for the week, FOB live prices were $1 lower in the Texas Panhandle at $256/cwt., steady to $1 higher in Kansas at $257-$258, mainly $1 lower in Nebraska at $256 and steady to $2 lower in the western Corn Belt at $256. Dressed delivered prices were mainly $405, which was mostly steady.
Choice boxed beef cutout value was 4¢ higher Friday afternoon at $392.66/cwt. Select was 35¢ lower at $383.04. Week to week on Friday, Choice boxed beef cutout value was $1.23 higher, but Select was 49¢ lower.
Total cattle slaughter last week of 533,000 head was 85,000 head more than the previous week but 48,000 head fewer than the same week last year. Year-to-date total cattle slaughter of 11.7 million head was 1.2 million head fewer (-9.1%) than the same time last year. Year-to-date beef production of 10.5 billion pounds was 726.6 million pounds less (-6.5%).
Grain and Soybean futures continued lower Friday with pressure from positive weather.
Soybean futures were 4¢ to 8¢ lower through near Jan and then mostly 2¢ lower.
Kansas City HRW Wheat futures were fractionally mixed to 3¢ lower through May ’27 and then 5¢ to 7¢ lower.
Corn futures were 4¢ to 7¢ lower through Jly ‘27. Week to week on Friday, they were an average of 28¢ lower through the front six contracts. That’s an average of 40¢ lower over the past two weeks in those same contracts.
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Major U.S. financial indices melted lower Friday, fueled by an exodus in chip stocks. On the positive side of the ledger, the U.S. added more jobs than expected last month.
Total nonfarm payroll employment increased by 172,000 in May, and the unemployment rate was unchanged at 4.3%, according to the U.S. Bureau of Labor Statistics. Average hourly earnings for all employees on private nonfarm payrolls last month rose by 12¢ to $37.53. Over the year, average hourly earnings increased by 3.4%.
The Dow Jones Industrial Average closed 695 points lower. The S&P 500 closed 200 points lower. The NASDAQ was down 1,121 points.
West Texas Intermediate Crude Oil futures (CME) were $1.00 to $2.50 lower through the front six contracts.
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USDA’s Animal and Plant Health Inspection Service (APHIS) confirmed a second detection of New World screwworm (NWS) on Friday. The confirmed case was found in a one-month-old calf in Zavala County, Texas, approximately 5.6 miles away from the first confirmed detection. APHIS and Texas animal health officials continue to collect and test other samples from the surrounding area which have come back negative.
“USDA has responded expediently with respect to this second detection, demonstrating our utmost preparedness. This second detection is within the established movement control zone and enhanced sterile insect dispersal area.” says Dudley Hoskins, Under Secretary for Marketing and Regulatory Programs. “Many models projected this pest would reach the United States last year, but thanks to USDA’s phenomenal work and our cooperation with state, federal, and industry partners, we’ve held it off until now—when we are far more prepared to respond. USDA has not wasted any time in this fight, we have defeated New World screwworm before, and we will do it again.”
The APHIS strike team in Texas includes veterinary medical officers and animal health technicians – experienced experts who serve as USDA’s boots on the ground response force.
The U.S. Food and Drug Administration has issued emergency use authorizations for several NWS treatments for different species. Currently, there are treatments available to support cattle, horses, swine, goats, captive exotic animals, and wildlife.
The National Veterinary Stockpile has relocated NWS treatment supplies to Texas to better support affected producers in the infested zone. If you or anyone you know needs access to these treatment supplies, they are now available and can be obtained by reaching out directly to the Texas Animal Health Commission (TAHC).