Negotiated cash fed cattle prices continued to look stronger through Friday afternoon, based on USDA reports. Although too few to trend, there were a few live trades reported at $102/cwt. in Kansas and Nebraska, which was $1-$2 higher than the previous week. Overall, live trade in in the Southern Plains was $1 higher at $101 and steady to $2 higher in the western Corn Belt at $100-$104. Dressed trade was $2-$7 higher in Nebraska at mostly $162; steady to $5 higher in the western Corn Belt at $160-$165.
Cattle futures closed a touch softer in sluggish trade on Friday with apparent positioning ahead of the monthly Cattle on Feed report (see below) and ahead of the weekend.
Live Cattle futures closed an average of 37¢ lower.
Except for an average of 32¢ higher in the front two contracts, Feeder Cattle futures closed an average of 44¢ lower.
Wholesale beef values were lower on Choice and weak on Select with light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.20 lower Friday afternoon at $216.97 cwt. Select was 44¢ lower at $191.72.
Corn futures closed mainly 2¢ to 3¢ lower.
Soybean futures closed mostly 6¢ to 9¢ lower.