Negotiated cash fed cattle sold steady in the beef on Friday at $197/cwt. Live sales were steady to mostly $1 lower at $123 in Kansas and Nebraska and at $123.00 to $125.50 in the western Corn Belt. The Texas Cattle Feeders Association reported its members selling steers at $123, which was $1 less than the previous week.
Softer cash trade and pressure in Lean Hog futures helped pressure Cattle futures on Friday.
Other than 70¢ and 37¢ higher in the front two contracts, Live Cattle futures closed an average of 37¢ lower.
Feeder Cattle futures closed an average of 45¢ lower.
Corn futures closed mostly 2¢ to 3¢ higher.
Soybean futures closed mostly 5¢ to 9¢ higher.
Wholesale beef values were weak on Choice and steady on Select with light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 74¢ lower Friday afternoon at $217.01/cwt. Select was 11¢ lower at $212.02.