When all was said and done, negotiated cash fed cattle trade last week was steady to $2 higher on a live basis at $110-$112/cwt. and fully steady in the beef at $175.
According to the Texas Cattle Feeders Association on Friday, “Tyson announced this afternoon that for all fed cattle harvested next week, they will make a one-time assistance payment to cattle feeders of $5/cwt. live and $7.94/cwt. dressed.”
Firmer cash prices and wholesale beef values helped Cattle futures extend gains Friday, following the previous session’s limit-up move, despite lower outside markets.
Live Cattle futures closed an average of $1.82 higher, from 60¢ higher to $3.55 higher in spot Apr. Thursday to Thursday, Open Interest declined 46,267 contracts to 285,018, the lowest level since September of 2018.
Feeder Cattle futures closed and average 0f $4.56 higher.
Choice wholesale boxed beef values were sharply higher and Select was lower with light to moderate demand and moderate to heavy offerings.
Choice boxed beef cutout value was $3.88 higher Friday afternoon at $253.75/cwt. Select was 89¢ lower at $240.17.
Corn futures closed 1¢ lower to 1¢ higher.
Soybean futures closed mostly 11¢ to 19¢ higher through Sep ‘21, and then 6¢ to 8¢ higher.