Cattle futures continued higher Friday, perhaps with fund selling coming to an and after the recent downward correction.
Live Cattle futures closed an average of $1.62 higher. Feeder Cattle futures closed an average of $2.83 higher.
Week to week on Friday, Live Cattle futures closed an average of 88¢ lower, except for 2¢ higher in away Apr. Feeder Cattle futures closed an average of $3.05 lower week to week on Friday.
Negotiated cash fed cattle trade was limited on moderate demand in the western Corn Belt through Friday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend, there were some FOB live trades at $248/cwt. Elsewhere, trade was mostly inactive on light to moderate demand.
For the week, FOB live prices were $2 lower at $246/cwt. and dressed delivered prices are $2 lower at $386.
Choice boxed beef cutout value was $3.50 higher Friday afternoon at $387/cwt. Select was $3.49 higher at $386.07. Week to week on Friday, Choice boxed beef cutout value was $5.94 higher and Select was $9.47 higher.
Estimated total cattle slaughter last week of 529,000 head was 15,000 head more than the previous week but 26,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 8.6 million head was 943,000 head fewer (-9.9%) than the same time last year. Estimated year-to-date beef production of 7.7 billion pounds was 613.8 million pounds less (-7.4%).
Grain and Soybean futures were mixed on Friday.
Kansas City HRW Wheat futures closed 5¢ to 10¢ lower on profit taking from the recent price surge tied to weather premium.
Corn futures closed mostly fractionally higher to 2¢ higher, except for fractionally lower in the front two contracts.
Soybean futures closed mostly 1¢ to 4¢ higher through Jan ’27 and then unchanged to fractionally mixed.
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