Negotiated cash fed cattle trade ended the week generally $2-$3 lower on a live basis at $122/cwt. in the Southern Plains and Nebraska; $122-$123 in the western Corn Belt. Dressed sales were $3-$4 lower at $195.
Although increasing worries about the economic impact of coronavirus weighed on equity markets Friday, Cattle futures—especially Feeder Cattle—continued to emerge from the week’s doldrums, likely helped along by short covering, month-end positioning and bullish expectations for Jan. 1 cattle numbers (see below).
Live Cattle futures closed narrowly mixed, from an average of 32¢ lower to an average of 14¢ higher.
Except for 37¢ lower in newly minted away-Jan, Feeder Cattle futures closed an average of 68¢ higher (40¢ to $1.30 higher).
Wholesale beef values were weak to lower on light to demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 35¢ lower Friday afternoon at $213.00/cwt. Select was 82¢ lower at $210.66.
Corn futures closed mostly fractionally higher to 1¢ higher.
Soybean futures closed mostly 2¢ to 3¢ lower.