Cattle futures closed lower for the second consecutive day on Friday as Corn futures gained and cash fed cattle prices remained steady to cloudy.
Feeder Cattle futures closed an average of 1.72¢ lower. However, they were $3.66 higher week to week.
Live Cattle futures closed an average of 76¢ lower.
Corn futures closed 4¢ to 6¢ higher.
KC HRW Wheat closed mostly 18¢ to 20¢ higher.
Soybean futures closed mostly 1¢ to 4¢ lower through Sep ‘24 and then mostly 3¢ higher.
Negotiated cash fed cattle trade was slow on moderate demand in Kansas, Nebraska and the western Corn Belt through Friday afternoon, according to the Agricultural Marketing Service. Elsewhere, trade was very limited on light demand.
For the week, live prices were mostly steady at $165/cwt., except for steady to $1 higher in the western Corn Belt at $165-$166. Dressed prices were steady to $3.50 higher in Nebraska at $265.00-$268.50 and steady in the western Corn Belt at $265.
Choice boxed beef cutout value was 31¢ higher Friday afternoon at $284.91/cwt. Select was $4.51 lower at $271.54/cwt.
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