Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Friday afternoon, with too few to trend, according to the Agricultural Marketing Service (AMS).
For the week, the only established trade reported by AMS was live prices of $164.50-$165.00/cwt. in the western Corn Belt, which was 50¢ to $1 higher. Dressed prices there the previous week were $260-$262.
Elsewhere the previous week, live prices were mostly at $164/cwt. and dressed prices were $262.
However, various private sources suggested more trade developing in other regions on Friday at $1-$2 higher. For instance, the Texas Cattle Feeders Association reported its members trading steers and heifers about $1 higher at $165.40) and $165.25, respectively.
Through Thursday, the weighted average five-area direct fed steer price was $1.19 higher at $164.84/cwt. The average steer price in the beef was $2.61 higher at $262.54.
Cattle futures gained Friday, supported by stronger cash fed cattle prices.
Feeder Cattle futures closed an average of $1.76 higher ($1.22 to $2.17 higher).
Live Cattle futures closed an average of $1.12 higher.
Choice boxed beef cutout value was 82¢ higher Friday afternoon at 289.32/cwt. Select was 72¢ lower at $276.86/cwt.
Corn futures closed 4¢ to 7¢ higher in old-crop contracts, mostly 1¢ to 3¢ lower.
KC HRW Wheat closed 5¢ to 9¢ lower.
Soybean futures closed mostly 5¢ higher.
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