Negotiated cash fed cattle traded at $112/cwt. in the Texas Panhandle on Friday, according to the Texas Cattle Feeders Association. That was $1 more than a week earlier.
Elsewhere, prices were yet to be established through late afternoon, according to reports from the Agricultural Marketing Service. Although too few to trend, there were some early live sales reported in the Western Corn Belt at $115-$116 and a few in the beef at $185. Those prices are at the top of the region’s range the prior week.
Feeder Cattle futures gained on softer corn prices, while Live Cattle treaded water.
Live Cattle futures closed from 5¢ lower to 12¢ higher, amid light trade.
Feeder Cattle futures closed an average of 41¢ higher, across a range of 5¢ higher at the back to 95¢ higher in spot Aug.
Corn futures closed 2¢ to 4¢ lower through Jul ’20 and then 1¢ lower.
Soybean futures closed mostly 1¢ higher through Aug ’20 and then 2¢ to 3¢ higher.
Wholesale beef values were weak to lower on light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 40¢ lower Friday afternoon at $212.17/cwt. Select was 84¢ lower at $188.34.