Negotiated cash fed cattle prices were $2 higher in Kansas through Friday afternoon at $137/cwt. That was on slow to moderate trade and moderate demand, according to the Agricultural Marketing Service. There were also a few trades in the Texas Panhandle at $137, but too few to trend; established trade for the week was $1 higher at $136.
Elsewhere, trade ranged from mostly inactive on light demand to a standstill. For the week, live prices were $3 higher in Nebraska at $142-$143 and $2 higher in the western Corn Belt at $142-$143. Dressed prices were $3-$4 higher at $225-$226.
Choice Boxed beef cutout value was 22¢ higher Friday afternoon at $271.32/cwt. Select was 72¢ lower at $248.89.
Estimated total cattle slaughter last week of 674,000 head was 71,000 more than the previous holiday-shortened week and 4,000 head more than the same week last year. Estimated year-to-date total cattle slaughter of 14.9 million head is 149,000 head more than last year. Estimated year-to-date beef production of 12.4 billion lbs. is 129 million lbs. more than last year.
Cattle futures softened Friday, pressured by sharply lower outside markets and likely week-end profit taking.
Feeder Cattle futures closed an average of $1.07 lower (75¢ to $1.55 lower).
The CME Feeder Cattle Index closed $7.58 higher week to week on Thursday at $161.87/cwt.
Live Cattle futures closed an average of 64¢ lower, from 50¢ lower at the back to $1.00 lower toward the front.
Corn futures closed mostly 3¢ to 6¢ higher.
Soybean futures closed mostly 14¢ to 20¢ lower.
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