Negotiated cash fed cattle trade was mostly inactive on light demand in Kansas through Friday afternoon, according to the Agricultural Marketing Service.
Elsewhere, trade was limited on moderate demand. Although too few transactions to trend in those regions, there were some FOB live trades at $256/cwt. in the Texas Panhandle, $255 in Nebraska and $254-$256 in the western Corn Belt. Likewise, too few to trend, there were some dressed delivered trades in Nebraska at $403-$410 and in the western Corn Belt at $400-$409.
The previous week, FOB live prices were $256-$258/cwt., in Kansas and $256 elsewhere. Dressed delivered prices were mainly $405.
Choice boxed beef cutout value was $1.28 lower Friday afternoon at $391.93/cwt. Select was 53¢ lower at $372.72. Week to week on Friday, Choice was 77¢ lower and Select was $9.97 lower.
Estimated total cattle slaughter last week of 524,000 head was 9,000 head fewer than the previous week and 36,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 12.5 million head was 1.2 million head less (-9.0%). than same time last year. Estimated year-to-date beef production of 11 billion pounds was 741.1 million pounds less (-6.3%).
Grain and Soybean futures were mainly lower Friday with continued pressure from the positive weather outlook and declining war premium with news about a peace plan between the U.S. and Iran.
Corn futures closed fractionally higher to 1¢ higher, however they were an average of 6’2¢ lower through the front six contracts week to week.
Soybean futures were mostly fractionally lower to 2¢ lower. Kansas City HRW Wheat futures were mostly 2¢ to 3¢ lower.
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