Negotiated cash fed cattle trade ranged from very limited on light demand to a standstill through Friday afternoon, according to the Agricultural Marketing Service. There were too few transactions to trend.
For the week, live prices were $1-$2 lower in the Texas Panhandle at $136-$137/cwt. and $135-$136 in Kansas. They were $1-$3 lower in Nebraska at $137 and steady to $3 lower in the western Corn Belt at $137-$138. Dressed trade was $2 lower at $218.
Week to week through Thursday, the five-area direct average steer price was $2.00 lower on a live basis at $136.58/cwt. The average price in the beef was $2.00 lower at $217.99.
Estimated total cattle slaughter last week was 621,000 head, just 1,000 head more than the previous week and 31,000 head fewer than the same week last year.
Live Cattle futures closed an average of 59¢ higher, except for unchanged and 37¢ lower in the back two contracts, supported by climbing wholesale beef prices.
Choice Boxed beef cutout value was $1.84 higher Friday afternoon at $284.31/cwt. Select was $1.21 higher at $273.97.
Feeder Cattle futures closed narrowly mixed, from an average of 23¢ lower to an average of 5¢ higher with pressure from front-month Corn futures.
Corn futures closed fractionally higher to 8¢ higher in the front six contracts, and then mostly 5¢ to 6¢ lower.
Soybean futures closed 8¢ to 13¢ lower.