Negotiated cash fed cattle trade was slow to moderate on light to moderate demand in the Southern Plains through Friday afternoon, according to the Agricultural Marketing Service. Live sales were mostly $2 higher in the Texas Panhandle at $162/cwt. and $1-$2 higher in Kansas at $162.
Elsewhere, trade was slow on light to moderate demand with too few transactions to trend.
For the week, live sales were steady to $3 higher in Nebraska at $160 and $2 higher in the western Corn Belt at $162. Dressed prices in both regions were $3 higher at $257.
Choice boxed beef cutout value was $1.49 higher Friday afternoon at $281.04/cwt. Select was $3.25 higher at $265.89/cwt.
Estimated total cattle slaughter last week of 627,000 head was 3,000 head fewer than the previous week and 43,000 head fewer than the same week last year. Estimated year-to-date cattle slaughter of 4.4. million head was 86,000 head less (-1.9%). Estimated year to date beef production of 3.6 billion lbs. was 141 million pounds less (-3.7%).
Stronger cash fed cattle prices helped Live Cattle futures gain Friday.
Live Cattle futures closed an average of 38¢ higher.
Feeder Cattle futures closed narrowly mixed, from an average of 19¢ lower to an average of 15¢ higher.
Corn futures closed mostly 2¢ higher through Jly ‘24 and then mainly unchanged to 1¢ lower.
KC HRW Wheat closed mostly 5¢ to 8¢ higher.
Soybean futures closed mostly 1¢ to 2¢ higher.
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