For the week, through Friday afternoon, negotiated cash fed cattle prices were steady to a touch softer in the Northern Plains at $126/cwt. in Nebraska and at $127-$128 in the western Corn Belt. Dressed trade was reported at $204-$206, compared to $206 the previous week. Prices in the Southern Plains were $1-$2 lower at $124.
Despite early pressure stemming from volatile Lean Hog futures, Cattle futures ended the day mostly narrowly mixed, with most of the pressure ascribed to week-end positioning.
Live Cattle futures closed an average of $1.19 lower in the front three contracts, and then 37¢ lower to 50¢ higher.
Feeder Cattle futures closed narrowly mixed (47¢ lower to 32¢ higher).
Corn futures closed 2¢ to 3¢ lower through Jul ’20 and then mostly 1¢ lower.
Soybean futures closed 5¢ to 7¢ lower through May ’20 and then mostly 4¢ lower.
Wholesale beef values were steady on Choice and higher on Select, with moderate to good demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 19¢ higher Friday afternoon at $226.93/cwt. Select was $1.92 higher at $220.28.