Negotiated cash fed cattle prices in the Southern Plains on Friday were mainly steady with the previous week at $119/cwt. on a live basis. Early dressed sales in Nebraska were $1 higher at $188. Though too few to trend, early live sales in the western Corn Belt were $1 higher at $117, while early dressed sales of $187 were at the upper end of the prior week’s trading range in the region.
Cattle futures meandered to a marginally softer close.
Other than 12¢ higher in spot Dec, Live Cattle futures closed an average of 29¢ lower.
Feeder Cattle futures closed an average of 22¢ lower.
Corn futures closed mostly unchanged to fractionally mixed.
Soybean futures closed 4¢ to 6¢ lower.
Wholesale beef values were lower on Choice and sharply higher on Select with light to moderate demand and light offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.51 lower Friday afternoon at $210.96/cwt. Select was $2.14 higher at $203.14.