Negotiated cash fed cattle trade ranged from mostly inactive to limited on light demand through Friday afternoon, according to the Agricultural Marketing Service. Prices for the week were generally steady. Live sales were at $121/cwt. in the Southern Plains, $123-$126 in Nebraska and $125-$126 in the western Corn Belt. Dressed sales were at $198 in Nebraska and at $198-$203 in the western Corn Belt.
Choice boxed beef cutout value was $6.90 higher Friday afternoon at $324.83/cwt. Select was $7.71 higher at $298.02/cwt.
Cattle futures softened in front-month contracts Friday, but strengthened in away months, supported by improving supply fundamentals.
Live Cattle futures closed an average of 28¢ higher, except for an average of 30¢ lower in the front three contracts.
Feeder Cattle futures closed an average of 67¢ higher (15¢ to $1.40 higher), except for an average of 56¢ lower in the front two contracts.
Corn futures wavered on the positive weather outlook.
Corn futures closed mixed, fractionally lower to 1¢ higher through new-crop contracts and then mostly 3¢ lower to 2¢ higher.
Soybean futures gained on confirmed strong weekly exports.
Soybean futures closed 11¢ to 26¢ higher through Aug ’22 and then 5¢ to 9¢ higher.