Negotiated cash fed cattle prices ended the week $2-$3 lower in the Southern Plains and Nebraska on a live basis at $102-$103/cwt. Live trade was steady to $3 lower in the western Corn Belt at $103-$104. Dressed sales were $3-$5 lower at $162-$164.
Through Thursday, the five-area direct weighted average fed steer price was $103.18/cwt. on a live basis, which was $1.94 less than the previous week. The average dressed steer price of $163.11 was $3.41 less than the previous week.
Cattle futures firmed by the end of Friday’s session after pressure earlier.
Live Cattle futures closed an average of 62¢ higher.
Except for 10¢ lower at the back, Feeder Cattle futures closed an average of 31¢ higher.
Choice boxed beef cutout value was $1.39 lower Friday afternoon at $225.85/cwt. Select was $3.20 lower at $209.30.
Corn futures closed mostly 2¢ to 3¢ higher.
Soybean futures closed mostly 1¢ higher.