Overall, Cattle futures extended gains Friday as nearby Corn futures continued to soften.
Feeder Cattle futures closed an average of 58¢ higher. They were an average of $6.23 higher week to week on Friday as Corn futures declined an average of 40.3¢ through the front six contracts during the same period.
Live Cattle futures closed mixed on Friday, down 3¢ to 28¢ in the front two contracts, then up an average of 21¢. Week to week, however, they were an average of $1.96 higher.
Negotiated cash fed cattle trade was limited on light demand through Friday afternoon, with too few transactions to trend accord to the agricultural Marketing Service.
For the week, live prices were $2 lower in the Southern Plains at $135/cwt., $1 lower in Nebraska at $139 and steady to $2 lower in the western Corn Belt at $140. Dressed prices were $1-$2 lower in Nebraska at $222 and steady to $5 lower in the western Corn Belt at $222.
Wholesale beef prices continued to gain last week. Choice boxed beef cutout value was $1.84 higher week to week on Friday at $267.26/cwt. Select was $3.52 higher at $250.02.
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