Negotiated cash fed cattle trade remained largely undeveloped through Friday afternoon. The only established trade for the week, based on USDA reports, was mostly steady FOB live prices in the western Corn Belt at $260/cwt. Late-day private reports suggested unevenly steady prices across a broader area.

The previous week, FOB live prices were $258-$260/cwt. in the Southern Plains and mostly $260 in Nebraska. Dressed delivered prices the previous week were mostly $408 in Nebraska and $405 in the western Corn Belt on a light test.

Choice boxed beef cutout value was $5.29 lower Friday afternoon at $391.03/cwt. Select was $3.16 lower at $371.58.

Estimated total cattle slaughter last week of 537,000 head was 11,000 head more than the previous week but 24,000 head fewer than the same week last year. Estimated year-to-date total cattle slaughter of 13.3 million head was 1.3 million head fewer (-8.7%) than the same time last year. Year-to-date estimated beef production of 11.9 billion pounds was 766.4 million pounds less (-6.0%).

“Year-to-date through mid-June, weekly steer dressed weights have ranged from a low of 973 pounds to a high of 989 pounds with an average of 982 pounds. On average, this is an increase of about 34 pounds (+4%) compared to the same period last year,” say analysts with the Livestock Marketing Information Center, in the June 19 Livestock Monitor.

Cattle futures closed lower Friday with likely profit taking, positioning ahead of the weekend, lower wholesale beef prices and wonderment about where cash fed cattle prices would eventually land for the week.

Live Cattle futures were an average of $1.10 lower, except for 5¢ higher in spot Jun. Feeder Cattle futures were an average of $3.79 lower.

Keeping in mind futures markets were closed the previous Friday, week to week on Thursday, Live Cattle futures closed an average of $1.66 higher. Feeder Cattle futures were an average of $5.42 higher.

Grain and Soybean futures were lower Friday with likely positioning ahead of next week’s acreage and grain stocks reports, looming month end and quarter end.

Corn futures were mostly unchanged to 2¢ lower through Sep ’27 and then mostly fractionally higher. Soybean futures were mostly fractionally lower to 1¢ lower. Kansas City HRW Wheat futures were mostly 9¢ to 11¢ lower with continued harvest pressure.