Cash fed cattle trade ended the week at $114-$115/cwt. in the Southern Plains, which was mainly $2 higher in Kansas and $2-$3 higher in the Texas Panhandle. In Nebraska, live trade was unevenly steady at $114-$116. Prices in the western Corn Belt were $1-$2 higher at $114-$115. Dressed trade was $1-$2 higher at $181-$182.
Cattle futures closed narrowly mixed to marginally higher with positive Live Cattle fundamentals tempered by the more price-positive outlook for corn prices (see World Agricultural Supply and Demand Estimates below).
Except for 20¢ lower in the back contract, Live Cattle futures closed an average of 19¢ higher.
Feeder Cattle futures closed narrowly mixed (27¢ lower to 22¢ higher).
Wholesale beef values were higher on Choice and steady on Select with moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 83¢ higher Friday afternoon at $239.12/cwt. Select was 24¢ higher at $213.26.
Corn futures closed 2¢ higher through Jly ’20 and then mostly 1¢ higher.
Soybean futures closed mostly 3¢ to 5¢ Lower.