Negotiated cash fed cattle trade was yet to be fully developed through Friday afternoon, but early prices were higher. The Texas Cattle Feeders Association reported its members trading at $122/cwt., which was $2 higher than the previous week. Likewise, AMS reported live sales in Kansas at $122, which was $2 higher than the prior week. In Nebraska, dressed sales were mostly $3 higher at mostly $196. Although too few to trend, early dressed sales in the western Corn Belt were $3-$4 higher at $195-$196.
Stronger cash undertones helped Cattle futures maintain most of the gains from the previous session.
Except for 10¢ lower in near Feb and unchanged in Jun, Live Cattle futures closed an average of 16¢ higher.
Except for 10¢ higher in spot Jan, Feeder Cattle futures closed an average of 22¢ lower.
Wholesale beef values were weak to lower on light demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.19 lower Friday afternoon at $208.96/cwt. Select was 68¢ lower at $204.57.
Corn futures closed 1¢ higher through Sep ’20 and then mostly unchanged to fractionally lower.
Soybean futures closed 2¢ to 8¢ lower through Jan ’21 and then fractionally lower.