Cattle futures wobbled Friday with uneven outside markets and wonderment about the potential strike at the JBS plant in Greeley next week.
Live Cattle futures closed an average of 42¢ lower. Feeder Cattle futures were mixed, from an average of 64¢ lower to an average of 68¢ higher. Week to week on Friday, Live Cattle futures closed an average of $2.54 lower and Feeder Cattle futures closed an average of $7.26 lower.
Negotiated cash fed trade was limited on moderate to good demand in Kansas through Friday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend, there were some FOB live trades at $233-$235/cwt.
Elsewhere, trade was mostly inactive on light demand.
For the week, FOB live prices were mainly $5 lower at mostly $235 in Kansas, Nebraska and the western Corn Belt. Dressed delivered prices in the North were mainly $8 lower at mostly $372. The previous week, FOB live prices in the Texas Panhandle were $240.
Choice boxed beef cutout value was 83¢ higher Friday afternoon at $397.92/cwt. Select was 72¢ higher at $391.54. Week to week on Friday, Choice boxed beef cutout value was $10.00 higher and Select was $12.59 higher.
Estimated total cattle slaughter last week of 525,000 head was 4,000 head more than the previous week but 61,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 5.5 million head was 606,000 head less (-9.9%) than the same time last year. Estimated year-to-date beef production of 4.9 billion pounds was 406.8 million pounds less (-7.6%).
Grain futures were higher Friday, led by wheat.
Kansas City HRW Wheat futures closed 12¢ to 17¢ higher through Jly ‘27 then mostly 11¢ higher with likely short covering and perhaps some weather premium.
Corn futures were 2¢ to 4¢ higher through near Sep and then fractionally higher to 1¢ higher, helped along by higher crude oil prices.
Soybean futures closed 2¢ to 6¢ lower with likely profit taking.
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