Cattle futures stabilized Friday, following a week of losses driven by opening of the Mexican border to feeder cattle, discovery of a new bird flu train in dairy cattle, packer-announced production cuts for the coming week and lower cash fed cattle prices.

Live Cattle futures closed an average of 38¢ higher, except for unchanged in near Apr.

Week to week on Friday, Live Cattle futures closed an average of $3.82 lower ($3.17 lower at the back to $5.52 lower toward the front).

Feeder Cattle futures closed an average of 43¢ higher, except for an average of 23¢ lower in the front three contracts.

Week to week on Friday, Feeder Cattle futures closed an average of $8.04 lower ($5.87 lower toward the back to $10.82 lower in spot Mar).

Negotiated cash fed cattle trade was mostly inactive on very light demand through Friday afternoon, according to the Agricultural Marketing Service.  

For the week, FOB live prices were $2 lower in the Southern Plains at $206/cwt., $2 lower in Nebraska at $208 and $2-$5 lower in the western Corn Belt at $205-$208. Dressed delivered prices were $2 lower at $328.

Choice boxed beef cutout value was $2.11 lower Friday afternoon at $321.87/cwt. Select was $1.87 lower at $312.90.

Week to week on Friday, Choice boxed beef cutout value was $5.81 lower and Select was $4.17 lower.

Estimated total cattle slaughter last week of 584,000 head was 16,000 head fewer than the previous week and 33,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 3.3 million head was 304,000 head fewer (-8.5%) than the same period last year. Year-to-date estimated total beef production of 2.8 billion pounds was 124.3 million pounds less (-4.2%).

Grain and Soybean futures closed lower Friday on likely profit taking and weekend position squaring.

Corn futures closed 5¢ to 7¢ lower through old-crop contracts and then mostly 2¢ to 3¢ lower. However, they closed an average of 6’4¢ higher week to week through the front six contracts.

Kansas City Wheat futures closed mostly 1¢ to 2¢ lower on Friday.

Soybean futures closed mostly 6¢ to 11¢ lower.