Negotiated cash fed cattle trade was undeveloped through Friday afternoon, based on USDA reports, though expectations were for steady to higher prices.
Cattle futures closed narrowly mixed, following the previous session’s correction.
Except for 2¢ lower in near Apr, Live Cattle futures closed an average of 32¢ higher.
Except for $1.35 lower in the back contract and 15¢ higher in Nov, Feeder Cattle futures closed an average of 19¢ lower.
Corn futures closed mostly 1¢ to 2¢ higher.
Soybean futures closed mostly 1¢ to 2¢ higher.
Wholesale beef values were lower on Choice and steady on Select, with light to moderate demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.13 lower Friday afternoon at $214.26/cwt. Select was 27¢ higher at $213.15.