Negotiated cash fed cattle trade remained undeveloped in the North through Friday afternoon, based on USDA reports. Although there were too few transactions to trend, a few live sales in the western Corn Belt were at $112-$114/cwt. and a few dressed sales in Nebraska were at $180. Compared to the previous week, that was $2-$4 higher on a live basis and $5 higher in the beef.
Furthermore, USDA’s Direct Slaughter Cattle Reporting Dashboard tallied 12,560 head of steers and heifers Friday (live and dressed), with the average steer price at $113.70 on a live basis and $177.04 in the beef.
For the week, live sales in the Southern Plains were $2 higher at $112/cwt.
Stronger cash prices and the recent surge in wholesale beef values helped Cattle futures rally on Friday.
Not counting 40¢ lower in newly minted away April, Live Cattle futures closed an average of $1.55 higher ($1.07 higher to $2.30 higher in spot Dec).
Feeder Cattle futures closed an average of $1.94 higher ($1.32 to $2.72 higher).
Wholesale beef values were higher on moderate to good demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.02 higher Friday afternoon at $233.20/cwt. Select was also $1.02 higher at $207.51.
Corn futures closed mostly fractionally lower.
Soybean futures closed 3¢ to 7¢ higher through Aug. ’20 and then mostly 1¢ lower.