Equity and futures markets were closed Friday in observance of Independence Day.

Negotiated cash fed cattle trade ranged from active on good demand in Kansas to light on moderate demand in the North through Thursday afternoon, according to the Agricultural Marketing Service.

For the week, FOB live prices were $3 lower in Kansas at $255/cwt., $3-$4 lower in Nebraska at $255-$256 and $4-$5 lower in the western Corn Belt at $255-$256. Dressed delivered prices were mainly $5 lower at $403. The previous week, FOB live prices in the Texas Panhandle were $258.

Choice boxed beef cutout value was $4.19 lower Thursday afternoon at $387.07/cwt. Select was $2.26 lower at $367.43. Week to week on Thursday, Choice was $6.55 lower and Select was $7.31 lower. Choice was about $10 lower over the past two weeks.

Cattle futures closed lower Thursday with weaker negotiated cash fed cattle prices and softer wholesale beef values.

Live Cattle futures closed an average of $2.24 lower and Feeder Cattle futures down an average of $3.43.

Week to week on Thursday, Live Cattle futures closed an average of $5.75 lower and Feeder Cattle futures were an average of $12.15 lower.

Grain and Soybean futures closed mixed Thursday with profit taking ahead of the holiday weekend.

Corn futures closed mostly 1¢ to 2¢ lower, except for fractionally higher to 2¢ higher in the front two contracts. Soybean futures closed 1¢ to 3¢ lower, except for fractionally higher to 5¢ higher in the front three contracts. Kansas City HRW Wheat futures closed 1¢ to 3¢ higher.