Cattle futures charged higher Friday, supported by the hefty rise in cash fed cattle prices. Live Cattle futures closed an average of $2.41 higher ($1.92 to $3.67 higher). Feeder Cattle futures closed an average of $4.13 higher.

Negotiated cash fed cattle trade ranged from slow on moderate demand to a standstill through Friday afternoon, according to the Agricultural Marketing Service.

For the week, FOB live prices were $1 higher in the Southern Plains at $186/cwt., $5-$6 higher in Nebraska at $195-$196 and $2-$3 higher in the western Corn Belt at $193-$195. Some trades were as high at $197 in the latter two regions. Dressed delivered prices were $4-$5 higher in Nebraska and the western Corn Belt at $305-$306. Dressed delivered prices were as high as $308 in Nebraska and $309 in the western Corn Belt.

Choice boxed beef cutout value was $1.58 higher Friday afternoon at $319.89/cwt. Select was $4.56 higher at $303.81/cwt.

Estimated total cattle slaughter last week of 615,000 head was 1,000 head more than the previous week but 21,000 head fewer than the same week last year. Year-to-date total estimated cattle slaughter of 14.4 million head was 654,000 head fewer (-4.4%). Estimated year-to-date beef production of 12.1 billion pounds was 191 million pounds less (-1.6%).

Turning to row crops, Grain and Soybean future softened Friday on likely profit taking. Corn futures closed mostly 3¢ to 5¢ lower. KC HRW Wheat futures closed mostly 12¢ lower. Soybean futures closed mostly 5¢ to 11¢ lower.