Negotiated cash fed cattle prices ended up $7 lower on a live basis last week at $105/cwt. in the Southern Plains, according to the Agricultural Marketing Service. Dressed trade in Nebraska and the western Corn Belt was $7-$12 lower at $168. A light test was noted in all regions. At least part of the pressure likely stems from slowing packing plant production, due to COVID-19 (see below).
Futures and equities markets were closed in observance of Good Friday.
Week to week on Thursday, Live Cattle futures closed an average of $6.33 higher, from $1.17 higher in spot Apr to $8.82 higher.
Week to week on Thursday, Feeder Cattle futures closed an average of $9.98 higher, from $8.85 to $11.75 higher.
Wholesale beef values were higher on moderate to fairly good demand and light offerings on Friday, according to AMS.
Choice boxed beef cutout value was $1.26 higher Friday afternoon at $223.93/cwt. Select was 76¢ higher at $208.33. Week to week, Choice was $6.51 lower and Select was $7.51 lower.