Cattle futures gained Friday as traders closed their book for the week and month. Support included firmer wholesale beef values and positive outside markets.
Live Cattle futures were an average of 96¢ higher.
Feeder Cattle futures closed an average of 87¢ higher.
Cattle futures also gained week to week. Live Cattle futures closed an average of $1.96 higher (47¢ higher at the back to $3.27 higher at the front). Feeder Cattle futures closed an average of $2.64 higher.
Negotiated cash fed cattle trade ranged from limited on light demand to inactive on very light demand with too few transactions to trend through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were steady in the Texas Panhandle at $183/cwt., $1 lower in Kansas at $182-$183, steady in Nebraska at $184 and $1-$3 lower in the western Corn Belt at $183-$185.
Dressed delivered prices were $3-$5 lower in Nebraska at $288-$292. Dressed delivered prices in the western Corn Belt the previous week were $293-$295.
Estimated total cattle slaughter last week of 611,000 head was 3,000 head more than the previous week but 20,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 20.9 million head was 910,000 head fewer (-4.2%) than the same time last year. Year-to-date estimated beef production of 17.6 billion pounds was 219.4 million pounds less (-1.2%).
Choice boxed beef cutout value was 68¢ higher Friday afternoon, at $309.34/cwt. Select was 37¢ lower at $295.82.
Grain and Soybean futures continued higher Friday.
Corn futures closed mostly 3¢ to 5¢ higher. Week to week on Friday, Corn futures closed an average of 8’6¢ higher. Kansas City Wheat futures closed 4¢ to 7¢ higher through Jly ‘25 on Friday and then mostly 2¢ higher. Soybean futures closed 6¢ to 8¢ higher.
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