Negotiated cash fed cattle trade was moderate on moderate demand in Kansas through Friday afternoon, according to the Agricultural Marketing Service. FOB live prices were unevenly steady at $190/cwt.

Elsewhere, trade was slow on light to moderate demand with some early FOB live trades in Nebraska and the western Corn Belt at $198, but too few to trend.

The previous week, FOB live prices were $189-$190/cwt. in the Texas Panhandle and mainly $197-$198 in Nebraska and the western Corn Belt. Dressed delivered prices the previous week were $310-$312 in Nebraska and $310 in the western Corn Belt with prices stretching as high as $314.

Estimated total cattle slaughter last week of 609,000 head was 11,000 head fewer than the previous week and 42,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 15.6 million head was 729,000 head fewer (-4.5%) than the same time last year. Estimated year-to-date beef production of 13.1 billion pounds was 209.7 million pounds less (-1.6%) year over year.

Cattle futures softened Friday with likely profit taking, month-end positioning and traders apparently leery to step out ahead of the week’s cash fed cattle trade.

Live Cattle futures closed an average of 88¢ lower. Week to week on Friday, Live Cattle futures closed an average of $3.14 higher in the front three contracts ($1.25 to $5.90 higher) as the expiring spot Jun closed some of the broad gap with cash. From there Live Cattle were an average of 75¢ lower.

Feeder Cattle futures closed an average of $1.72 lower on Fiday. Week to week they were an average of 60¢ lower, except for 92¢ higher in spot Aug.

Corn futures dove lower Friday with the bearish Acreage report (see below), applying pressure to Wheat and Soybeans, along with likely month-end position squaring.

Corn futures closed 10¢ to 16¢ lower through Jly ’25 and then mostly 1¢ to 4¢ lower. Week to week they were an average of 31’0¢ lower through the front six contracts, an average of 47’3¢ lower over the past two weeks.

KC HRW Wheat closed mostly 5¢ to 10¢ lower through May ’25 and then fractionally lower to 3¢ lower.

Soybean futures closed fractionally lower to 3¢ lower through near Nov  and then mostly 1¢ to 4¢ higher.