Cattle futures closed higher Friday, following stronger equity markets.

Live Cattle futures were an average of $2.15 higher. Feeder Cattle futures were an average of $3.47 higher. Week to week on Friday, Live Cattle futures closed mixed, from an average of 80¢ lower in the front three contracts to an average of $2.45 higher. Feeder Cattle futures were an average of $3.57 higher during the same period.

Negotiated cash fed cattle trade was limited on light demand in all regions through Friday afternoon, according to the Agricultural Marketing Service.

For the week, FOB live prices were $2-$5 lower at $208/cwt. in Nebraska and the western Corn Belt. Dressed delivered prices were $7-$8 lower at $327-$328.

The previous week, live FOB prices were $208 in the Southern Plains.

Wholesale beef prices softened. Choice boxed beef cutout value was 7¢ lower Friday afternoon at $334.22/cwt. Select was $1 lower at $313.96.

Estimated total cattle slaughter last week of 564,000 head was 27,000 head fewer than the previous week and 34,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 8.4 million head was 483,000 head fewer (-5.4%) than the same week a year earlier. Estimated year-to-date beef production of 7.4 billion pounds was 126.4 million pounds less (-1.7%).

Grain and Soybean futures were higher Friday.

Corn futures were mostly 8¢ to 9¢ higher, supported by the week’s U.S. export sales, lower U.S. dollar and added weather premium. Week to week on Friday, they were an average of 20’3¢ higher through the front six contracts.

Kansas City Wheat futures were 10¢ higher. Soybean futures were mostly 15¢ to 20¢ higher.