Negotiated cash fed cattle trade was limited with light demand in all feeding regions through Friday afternoon, according to the Agricultural Marketing Service.
Last week were generally $1-$2 higher on a live basis in the Texas Panhandle at $121-$122/cwt.; $1 higher in Kansas at $121; $3 higher in Nebraska at $125; $1-$2 higher in the western Corn Belt at $125-$126. Dressed trade was $2 higher in Nebraska at $198; $3 higher to $3 lower at $198 in the western Corn Belt.
Surging wholesale beef values, position squaring and stronger cash fed cattle prices, albeit with anemic trade, helped buoy Cattle futures Friday.
Live Cattle futures closed an average of 78¢ higher (30¢ to $1.225)
Feeder Cattle futures closed an average of $1.62 higher (80¢ to $2.20)
Corn futures closed 3¢ to 6¢ higher through the front six contracts, except for up fractionally in spot Sept, and then mostly 8¢ to 9¢ higher.
Soybean futures closed 6¢ to 8¢ higher, except for 20¢ higher in Spot Aug.