Negotiated cash fed cattle trade was $3-$5 lower last week on a live basis at $115-$117/cwt. in the Southern Plains, $117 in Nebraska and $116-$118 in the western Corn Belt. Dressed prices were $2-$5 lower in the western Corn Belt at $185-$190 and $3-$10 lower in Nebraska at $185-$186.
Oversold conditions and follow-through technical support helped Cattle futures close higher Friday, especially Feeder Cattle.
Live Cattle futures close an average of $1.31 higher (80¢ to $1.80 higher).
Except for 30¢ higher in spot May, Feeder Cattle futures close an average of $2.35 higher.
Wholesale beef values were firm to higher on moderate to fairly good demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 75¢ higher Friday afternoon at $220.31/cwt. Select was 40¢ higher at $208.28.
Corn futures closed 1¢ to 4¢ higher through May ’20, and then mostly fractionally lower to 1¢ lower.
Soybean futures closed 14¢ to 18¢ lower, mostly 16¢-17¢ lower.