Negotiated cash fed cattle trade was mostly inactive on light demand in all major cattle feeding regions through Friday afternoon, according to the Agricultural Marketing Service.
For the week, live prices were $1 lower to $1 higher in the Texas Panhandle at $110-$112/cwt. They were $1 lower in Kansas at $110. Live prices were steady to $1 lower in Nebraska at $109-$110 and steady to $1 lower in the western Corn Belt at $109. Dressed trade was steady to $2 lower at $172-$174.
Through Thursday, the five-area direct weighted average steer price was $109.77 on a live basis, which was 40¢ lower than the previous week and $9.18 less than the same week last year. The average steer price in the beef was $1.10 lower week to week at $172.29; $15.45 lower year over year.
Cattle futures mostly closed lower on Friday, but found some footing in the wake of the previous session’s strong decline.
Live Cattle futures closed an average of 24¢ lower except for an average of 12¢ higher in the back two contracts.
Feeder Cattle futures closed narrowly mixed from an average of 14¢ lower to an average of 8¢ higher.
Choice boxed beef cutout value was $4.17 lower Friday afternoon at $235.02/cwt. Select was $2.42 lower at $217.51.
Corn futures closed 2¢ to 6¢ lower through Sep ’21 and then mostly fractionally lower.
Soybean futures closed 1¢ to 5¢ lower through Jan ’22 and then fractionally higher.