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

For the week, FOB live prices were $1 lower in the Southern Plains at $186/cwt., $2 lower in Nebraska at $190 and steady in the western Corn Belt at $190-$192. Dressed delivered prices in Nebraska were $3 lower at $301. Prices in the western Corn Belt the previous week were $302-$304.

Choice boxed beef cutout value was 84¢ lower Friday afternoon at $313.20/cwt. Select was 81¢ lower at $301.71/cwt. Choice was $2.75 higher week to week on Friday. Select was 1¢ lower.

Estimated total cattle slaughter for the holiday-shortened week of 540,000 head was 67,000 head fewer than the previous week and 28,000 head fewer than the same week a year earlier. Year-to-date estimated total cattle slaughter of 13.1 million head was 624,000 fewer (-4.5%) than the same time last year. Estimated year-to-date beef production of 11.1 billion pounds was 218.4 million pounds less (-1.9%).

Cattle futures continued lower Friday with pressure including steady to lower cash fed cattle prices.

Live Cattle futures closed an average of $1.16 lower. They were an average of $2.70 lower week to week on Friday.

Feeder Cattle futures closed an average of $2.04 lower, from 87¢ lower at the back to $2.67 lower at the front. Week to week, they were an average of $2.57 lower, from $1.15 lower toward the back to $3.82 lower at the front.

Grain futures continued to erode on Friday.

Corn futures closed 3¢ to 4¢ lower. Through the front six contracts, they were an average of 20¢ lower week to week.

KC HRW Wheat futures closed mostly fractionally mixed.

Soybean futures closed 3¢ to 5¢ lower.