Cattle futures were narrowly mixed to higher Friday, supported by the week’s stronger outside markets and the prospects for negotiated cash fed cattle prices retaining recent gains.

Live Cattle futures closed narrowly mixed, from unchanged to an average of 12¢ lower in four contracts, to an average of 34¢ higher.

Feeder Cattle futures closed an average of $1.65 higher.

For the week, Monday through Friday, Live Cattle futures closed an average of $3.38 higher. During the same period, Feeder Cattle futures closed an average of $4.76 higher, receiving added support from Corn futures that were an average of 6’6¢ lower through the front six contracts during the same period, pressured by planting progress.

Weekly negotiated cash fed cattle trade remained to be established with light trade on moderate demand in all major cattle feeding regions through Friday afternoon, according to the Agricultural Marketing Service.

There were a few live FOB trades at $212/cwt. in the Texas Panhandle and $218 in Kansas, but too few transactions to trend.

The previous week, FOB live prices were $208-$210/cwt. in the Texas Panhandle, $210 in Kansas, $212-$214 in Nebraska and $212 in the western Corn Belt. Dressed delivered prices were $332-$340 in Nebraska and $335 in the western Corn Belt.

Choice boxed beef cutout value was $2.78 higher Friday afternoon at $336.48/cwt. Select was $3.76 higher at $320.11. Week to week on Friday, Choice was $4.97 higher and Select was $4.56 higher.

Estimated total cattle slaughter last week of 555,000 head was 21,000 head fewer than the previous week and 59,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 9.6 million head was 589,000 head fewer (-5.8%) than the same period last year. Estimated year-to-date beef production of 8.3 billion pounds was 178.7 million pounds less (-2.1%).

Turning to the grain complex, futures were mixed on Friday.

Corn futures closed mostly fractionally lower to 1¢ lower. Kansas City Wheat futures closed mostly fractionally higher. Soybean futures closed mostly fractionally higher to 1¢ higher, except for 1¢ to 3¢ lower in the front three contracts.