Negotiated cash fed cattle trade ended up mainly $5-$10 higher on a live basis last week at mostly $120/cwt. in the Southern Plains and at $119-$120 in Nebraska. Dressed trade was mostly $10 higher at mainly $190.
Cattle futures hovered Friday, amid light trade.
Live Cattle futures closed mostly narrowly mixed, from an average of 54¢ lower (5¢ to $1.10 lower in spot Jun) to an average of 16¢ higher.
Except for 7¢ lower in new spot Aug, Feeder Cattle futures closed unchanged to 7¢ higher.
Choice boxed beef cutout value was $5.07 lower Friday afternoon at $396.74/cwt. Select was $8.35 lower at $374.18.
USDA estimated total cattle slaughter for the week at 555,000 head, which would be 56,000 head more (+11.2%) than the previous week, but 92,000 head fewer (-14.2%) than the same week a year earlier. Year to date, cattle slaughter of 12.11 million head is 893,000 head fewer (-6.9%) than the same period least year.
Corn futures closed fractionally lower to 1¢ lower.
Soybean futures closed mostly 1¢ lower through Jan ’21 and then mostly fractionally higher to 1¢ higher.