Negotiated cash fed cattle trade was mostly inactive on very light demand in all major cattle feeding regions through Friday afternoon, according to the Agricultural Marketing Service.
Live prices last week ranged from steady to $2 lower in the Southern Plains at $118-$120/cwt. to $1-$5 lower in the Northern Plains at $121; steady to $4 lower in the western Corn Belt at $120-$122. Dressed trade was $2-$4 lower at $192.
Cattle futures closed higher Friday, supported by oversold conditions and a reprieve from another day of higher corn prices.
Live Cattle futures closed an average of 67¢ higher (12¢ to 92¢ higher), except for 47¢ and 12¢ lower in the front two contracts.
Feeder Cattle futures closed an average of $1.42 higher (65¢ to $1.67 higher).
Choice boxed beef cutout value was $1.46 higher at $283.77/cwt. Select was $1.56 lower at $272.13
Corn futures closed 1¢ to 4¢ lower, except for 5¢ and 1¢ higher in the front two contracts.
Soybean futures closed 1¢ to 6¢ higher through Nov ‘22, and then fractionally lower to 2¢ lower.