Negotiated cash fed cattle trade and prices were mostly $1 higher in the Southern Plains at $114/cwt. on a live basis, with moderate trade and demand, according to the Agricultural Marketing Service.
In Nebraska, trade was slow to moderate with moderate demand through Friday afternoon. Live prices were steady to $1 higher at $112-$114, but mostly $114. Dressed trade there on Thursday was steady to $2 higher at $178-$180.
Live prices in the western Corn Belt on Thursday were at $112-$114, which was generally $1.50-$2.00 higher. Dressed prices were mainly steady to $2 higher at $178-$180.
The average dressed steer weight the week ending Jan. 23 was 926 lbs., according to USDA’s Actual Slaughter Under Federal Inspection report. That was 1 lb. heavier than the previous week and 25 lbs. heavier than the prior year. The average dressed heifer weight of 851 lbs. was 1 lb. heavier than the previous week and 19 lbs. heavier than the prior year.
Total estimated cattle slaughter last week was 653,000 head, the same as the previous week; 22,000 head more than the same week last year. Year-to-date estimated cattle slaughter of 3.34 million head is 178,000 fewer (-5.0%) than the same time last year.
Cattle futures edged lower Friday, with recently softer wholesale beef values, some likely week-end profit taking, and in the face of higher cash prices.
Live Cattle futures closed an average of 21¢ lower, except for an average of 15¢ higher in the front two contracts.
Feeder Cattle futures closed an average of 48¢ lower, from 25¢ lower at the back to $1.22 lower in spot Mar.
Corn futures closed fractionally mixed to 1¢ lower through Jly ’22 and then 3¢ to 9¢ higher.
Soybean futures closed 1¢ to 3¢ higher, except for 1¢ to 5¢ lower in the front three contracts.