Negotiated cash fed cattle trade ranged from limited on moderate demand in Nebraska to mostly inactive on light demand elsewhere through Friday afternoon, according to the Agricultural Marketing Service. Although established trade was undeveloped through Friday afternoon, there were private reports of FOB live bids at $258-$260 in various regions.

The previous week, FOB live prices were $255-$256/cwt. in the Texas Panhandle, mostly $256 in Kansas and $255-$258 in the North. Dressed delivered prices were $403-$405.

Choice boxed beef cutout value was 45¢ higher Friday afternoon at $394.37/cwt. Select was $2.67 lower at $372.08. Week to week on Friday, Choice boxed beef cutout value was $2.44 higher, while Select was 64¢ lower.

Estimated total cattle slaughter last week of 526,000 head was 2,000 head more than the previous week but 32,000 head fewer than the same week last year. Estimated year-to-date total cattle slaughter of 12.8 million head was 1.2 million head fewer (-8.9%) than the same time a year earlier. Estimated year-to-date beef production of 11.5 billion pounds was 758.9 million pounds less (-6.2%).

Futures markets were closed Friday, in observance of Juneteenth.

Week to week on Thursday, Live Cattle futures closed an average of $4.12 higher. Feeder Cattle futures closed an average of $9.97 higher. During the same period Corn futures closed an average of 4’2¢ higher through the front six contracts.