Cattle futures closed higher Friday, supported by steady to stronger cash fed cattle prices, recovering from the previous session’s sell-off tied to news union workers voted to authorize a strike at the JBS beef packing plant in Greeley, Colo., though no timetable was set for the strike.

Live Cattle futures closed an average of $1.63 higher. Feeder Cattle futures closed an average of $1.76 higher.

Week to week on Friday, Live Cattle futures closed an average of $2.87 higher (45¢ higher near the front to $4.00 higher). Feeder Cattle futures closed an average of $3.34 higher.

Negotiated cash fed cattle trade ranged from limited on moderate demand in the North to moderate on good to very good demand in the Southern Plains through Friday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were mainly $5 higher in the Southern Plains at mostly $245/cwt., and mainly steady in the North at $240. Dressed delivered prices were steady with the top end of the previous week’s range at $378.

Choice boxed beef cutout value was $2.08 higher Friday afternoon at $369.33/cwt. Select was $4.16 higher at $364.53. Week to week on Friday, Choice boxed beef cutout value was $3.77 higher and Select was $2.59 higher.

Estimated total cattle slaughter last week of 536,000 head was 8,000 head more than the previous week but 47,000 head fewer than the same week last year. Estimated total year-to-date cattle slaughter of 2.9 million head was 382,000 head fewer (-11.7%) than the same time last year. Estimated year-to-date beef production of 2.6 billion pounds was 276.1 million pounds less (-9.7%).

Grain and Soybean futures were mixed Friday.  

Corn futures closed 3¢ to 4¢ lower. KC HRW Wheat futures closed 5¢ to 7¢ lower. Soybean futures closed 1¢ to 3¢ higher through near Aug and then 4¢ to 7¢ lower.