Corn futures closed 11¢ to 24¢ higher through Sep ’23, then 6¢ to 8¢ higher on expectations Monday’s USDA crop report will show a reduction in yields.
Soybean futures closed mostly 17¢ to 26¢ higher.
Feeder Cattle futures closed an average of 66¢ higher, helped along by strong cash demand.
Live Cattle futures closed an average of $1.00 higher, apparently with some speculation that cash prices will move higher next week, given ho-hum interest from packers the last couple of weeks.
Negotiated cash fed cattle trade ranged from slow on light demand to mostly inactive on light demand through Friday afternoon, according to the Agricultural Marketing Service.
Regionally, negotiated cash fed cattle prices last week were mainly steady to lower. Live prices were steady to $1 higher in the Southern Plains at $141/cwt., steady to $2 lower in Nebraska at $143 and steady in the western Corn Belt at $143-$145. Dressed prices were $2-$4 lower in Nebraska at $226. The previous week, dressed prices were $228-$232 in the western Corn Belt.
Choice Boxed beef cutout value was 75¢ lower at $257.26/cwt. Select was $1.31 lower at $243.73/cwt.
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