Cattle futures continued to bounce back Friday with another day of higher wholesale beef values and perhaps some positioning ahead of the long weekend.
Live Cattle futures closed an average of $1.26 higher. They were an average of 92¢ higher week to week.
Feeder Cattle futures closed an average of 71¢ higher (42¢ to $1.02 higher). Week to week on Friday, they closed an average of $3.56 lower ($3.20 to $4.07 lower).
That was with Corn and Soybean futures continuing to chug higher, riding the rails of drought worries.
Corn futures closed mostly 13¢ to 24¢ higher through Sep ‘24 and then mostly 9¢ to 11¢ higher. Week to week, they were an average of 58’9¢ higher through the front six contracts.
Soybean futures closed 31¢ to 50¢ higher through Aug ‘24 and then mostly 20¢ higher. Week to week on Friday, there were about $1.20 higher through the front six contracts.
KC HRW Wheat closed mostly 21¢ to 31¢ higher on Friday.