Although too few to trend, negotiated cash fed cattle prices bounced higher on Friday at $120/cwt. on a live basis in the Southern Plains and at $119-$120 in Nebraska. Also too few to trend, dressed prices in Nebraska were at $190.
The five-area direct weighted average steer price through Thursday was $11.36 higher than the previous week at $111.40/cwt. The average price in the beef was $19.90 higher at $179.30.
Cash price strength helped lift Cattle futures.
Live Cattle futures closed an average of 62¢ higher, (15¢ higher to $2.87 higher in spot Jun).
Feeder Cattle futures closed an average of 41¢ higher.
Choice boxed beef cutout value was $16.60 lower Friday afternoon at $434.32/cwt. Select was $18.34 lower at $419.06.
Corn futures closed mainly fractionally mixed.
Soybean futures closed 1¢ to 2¢ higher.