Cattle futures sank lower Friday with pressure including the bounce higher in grain futures, more cases of Bovine Influenza A Virus in dairy cattle and struggling outside markets.
Live Cattle futures closed an average of $2.39 lower.
Feeder Cattle futures closed an average of $3.27 lower.
Week to week on Friday, Live Cattle futures closed an average of $1.39 and Feeder Cattle futures closed an average of $3.25 lower.
Negotiated cash fed cattle trade ranged from slow on light demand to moderate on moderate demand through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were $2 lower in the Texas Panhandle at $182/cwt., $1-$2 lower in Kansas at $182, $3 lower in Nebraska at $184 and $2 lower in the western Corn Belt at $185.
Dressed delivered prices were $3-$4 lower in Nebraska at $293 and $4 lower in the western Corn Belt at $293.
Choice boxed beef cutout value was $2.20 higher Friday afternoon at $300.57/cwt. Select was 39¢ higher at $295.54/cwt.
Estimated total cattle slaughter last week of 603,000 head was 10,000 head fewer than the previous week and 8,000 head fewer than the same week a year earlier. Year-to-date estimated total cattle slaughter of 8.9 million head was 482,000 head fewer (-5.1%) year over year. Year-to-date estimated beef production of 7.5 billion pounds was 251.6 million pounds less (-3.3%).
Grain and Soybean futures rallied Friday as funds appeared to exit positions amid risk-off sentiment in equity markets.
Corn futures closed 5¢ to 6¢ higher through Jly ’25 and then mostly 2¢ to 3¢ higher.
KC HRW Wheat futures closed 5¢ to 8¢ higher through May ’25 and then mostly 3¢ higher.
Soybean futures closed 11¢ to 14¢ higher through Jan ’25 and then 6¢ to 9¢ higher.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More