Negotiated cash fed cattle trade was inactive on very light demand through Friday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
For the week, live prices were $3 higher in the Southern Plains at $148/cwt., $3-$4 higher in Nebraska at $151-$152 and $2-$4 higher in the western Corn Belt at $150-$152. Dressed prices were $4 higher at $236.
Stronger cash prices and higher wholesale beef prices helped Cattle futures gain Friday.
Feeder Cattle futures closed an average of 79¢ higher, except for 30¢ lower in spot Oct.
Live Cattle futures closed an average of 54¢ higher.
Choice Boxed beef cutout value was 9¢ higher Friday afternoon at $253.71/cwt. Select was $2.28 higher at $224.36/cwt.
Total estimated cattle slaughter last week of 673,000 head was 13,000 head more than the previous week. Total year-to-date estimated cattle slaughter of 27.37 million head was 433,000 head more (+1.6%) than the same period last year. Total year-to-date beef production of 22.56 billion lbs. was 3.2 million lbs. more (+1.4%).
Corn futures closed mostly fractionally mixed.
Soybean futures closed 4¢ to 5¢ higher through Aug ’23 and then mostly 1¢ to 4¢ higher
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