Cattle futures mostly edged higher Friday, extending gains from the previous session and supported by higher cash fed cattle prices.
Live Cattle futures closed an average of 43¢ higher., except for 12¢ lower in the spot month. They were an average of $2.39 lower week to week on Friday.
Feeder Cattle futures closed narrowly mixed, from an average of 32¢ lower in the front three contracts to an average of 13¢ higher. They were an average of $5.38 lower week to week on Friday.
Negotiated cash fed cattle trade in the Southern Plains ranged from slow on light demand in the Texas Panhandle to moderate on moderate demand in Kansas through Friday afternoon, according to the Agricultural Marketing Service. Elsewhere, trade was slow on light demand.
For the week, FOB live prices were $2 higher in the Southern Plains at $184/cwt., $2 higher in Nebraska at $186-$187 and $1-$3 higher in the western Corn Belt at $187. Dressed delivered prices were steady to $1 higher in Nebraska at $295 and $1 higher in the western Corn Belt at $295.
Choice boxed beef cutout value was $1.30 higher Friday afternoon at $294.20/cwt. Select was 33¢ lower at $287.65/cwt. However, week to week on Friday, Choice was $2.94 lower and Select was $1.07 lower.
Total estimated cattle slaughter of 619,000 head last week was 6,000 more than the previous week but 2,000 head less than the same week last year. Year-to-date estimated total cattle slaughter of 10.8 million head was 509,700 head fewer (-4.5%). Year-to-date estimated beef production of 9.0 billion pounds was 214.1 million pounds less (-2.3%).
Turning to row crops, Grain and Soybean futures continued higher Friday as traders added weather premiums.
KC HRW Wheat futures closed 11¢ to 13¢ higher through May ’25. and then mostly 6¢ to 7¢ higher.
Corn futures closed mostly 3¢ higher.
Soybean futures closed 9¢ to 14¢ higher through Aug ’25 and then mostly 7¢ higher.
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