Negotiated cash fed cattle trade was limited on light demand in the western Corn Belt through Friday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were a few live sales at $144/cwt.
Elsewhere, trade was mostly inactive on light demand.
For the week, live prices were $2 higher in Nebraska and the Southern Plains at $142 and $1-$2 higher in the western Corn Belt at $142-$143. Dressed prices were $2 higher at $226.
Total estimated cattle slaughter last week was 663,000 head, which was 4,000 head more than the previous week and 114,000 head more than the same week last year. Total estimated year-to-date cattle slaughter of 4.49 million head is just 110,000 head fewer.
Feeder Cattle futures closing mixed, from an average of 42¢ lower in three contracts to an average of 44¢ higher.
Live Cattle futures closed an average of 35¢ lower except for unchanged to 35¢ higher in the back three contracts.
Choice Boxed beef cutout value was $3.74 lower Friday afternoon at $265.85/cwt. Select was $2.22 lower at $262.63.
Net U.S. beef export sales of 23,000 metric tons (2022) were 18% more than the previous week and 38% more than the prior four-week average, according to USDA’s U.S. Export Sales report for the week ending Feb. 10.
Increases were primarily for South Korea, Japan, Canada, Mexico, and China.
Corn futures closed mostly fractionally higher to 1¢ higher.
Soybean futures closed 3¢ to 9¢ higher.