There were a few negotiated cash fed cattle trades in Nebraska and the western Corn Belt on Friday at $127-$128/cwt. on a live basis, and a few in the beef at $205; too few to trend.
For the week, trade was generally steady at $128 in the Southern Plains and Nebraska. Dressed trade was also steady at $205.
A rally in Lean Hogs and expectations for fewer feedlot placements helped underpin Cattle futures on Friday.
Live Cattle futures closed an average of 52¢ higher (15¢ higher in the back contract to 75¢ higher).
Feeder Cattle futures closed an average of $1.03 higher (72¢ to $1.70 higher).
Corn futures closed mostly fractionally lower to 1¢ lower.
Soybean futures closed 5¢ to 7¢ lower through Jan. ’20 and then mostly 3¢ to 4¢ lower.
Wholesale beef values were steady on light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 9¢ higher Friday afternoon at $226.13/cwt. Select was 24¢ higher at $218.78.