Cattle futures closed lower Friday on likely week-end profit taking.

Live Cattle futures were an average of $1.06 lower (65¢ lower at the back to $1.55 lower in spot Jan). Feeder Cattle futures closed an average of $3.74 lower.

Week to week on Friday, Live Cattle futures closed an average of $1.12 higher (5¢ to $1.67 higher), except for an average of $1.39 lower in the front three contracts. During the same period, Feeder Cattle futures were mixed, an average of $1.50 higher in the front five contracts (12¢ higher to $4.62 higher) and then an average of 43¢ lower.

Negotiated cash fed cattle trade was light on good demand in the North through Friday afternoon, according to the Agricultural Marketing Service. For the week, FOB live prices were mainly steady in Nebraska and the western Corn Belt at mostly $232/cwt. Dressed delivered prices were $5 higher at $365.

FOB live trades in Kansas the previous week were at mostly $232.

Choice boxed beef cutout value was $1.16 lower Friday afternoon at $355.63/cwt. Select was 11¢ higher at $352.17. Week to week on Friday, Choice boxed beef cutout value was $5.66 higher and Select was $5.25 higher.

Estimated total cattle slaughter last week of 553,000 head was 79,000 head more than the previous holiday-shortened week but 38,000 head fewer (-6.4%) than the same week last year. Estimated beef production for the week of 493.3 million pounds was 69.6 million pounds more than the previous week but 27.1 million pounds less (-5.2%) than a year earlier.

Grain and Soybean futures were mainly firm Friday, ahead of next Monday’s World Agricultural Supply and Demand Estimates.

Corn futures closed fractionally lower. KC HRW Wheat futures were unchanged to fractionally lower through near Dec and then mostly 1¢ lower. Soybean futures closed 1¢ higher through near Aug and then mostly 1¢ lower.