Negotiated cash fed cattle trade remained undeveloped through Friday afternoon, with prices for the week looking to be steady to higher.
Lower feedlot performance tied to winter weather, and apparent short covering ahead of the holiday weekend, helped boost Live Cattle futures Friday; Feeder Cattle tagged along to a lesser degree. Strong gains in Lean Hog futures also provided support.
Except for 57¢ lower in spot Feb, Live Cattle futures closed an average of 45¢ higher.
Except for 10¢ lower in March, Feeder Cattle futures closed an average of 20¢ higher.
Soybean futures moved higher Friday, presumably on adverse South American weather and hopes for trade talks; corn followed along.
Corn futures closed fractionally higher to 2¢ higher through Sep ’20 and then mostly fractionally lower.
Soybean futures closed 7¢ to 9¢ higher through Sep ’20 and then 4¢ to 5¢ higher.
Wholesale beef values were firm to higher on moderate to good demand and light offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 65¢ higher Friday afternoon at $213.15/cwt. Select was $1.81 higher at $209.45.