When all was said done last week, negotiated cash fed cattle prices were steady in the Southern Plains at $126/cwt., but $2-$3 less in the north at $125-$127 in Nebraska and $128 in the western Corn Belt. Dressed trade was $2-$3 lower at mostly $205 in Nebraska and mostly $205-$206 in the western Corn Belt.
Cattle futures edged mostly lower Friday, but apparent short covering and positioning helped staunch the downward momentum of the previous two sessions.
Except for 50¢ higher in spot Apr, Live Cattle futures closed an average of 32¢ lower.
Except for 40¢ higher in spot May and an average of 7¢ higher in the back two contracts, Feeder Cattle futures closed an average of 41¢ lower.
Wholesale beef values were steady on light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 6¢ higher Friday afternoon at $232.99/cwt. Select was 34¢ lower at $219.41.
Corn futures closed 1¢ to 4¢ higher.
Soybean futures closed 4¢ to 5¢ lower.