Cattle futures closed mostly higher again Friday with follow-through support from the week’s surging cash fed cattle prices.

Live cattle futures closed an average of $1.16 higher (12¢ higher toward the back to $3.40 higher at the front), except for 2¢ lower in away Aug.

Feeder Cattle futures closed an average of 61¢ higher (5¢ higher at the back to $1.00 higher at the front).

Week to week on Friday, Live Cattle futures closed an average of $6.27 higher ($3.15 higher toward the back to $10.82 higher in spot June). Feeder Cattle futures closed an average of $9.79 higher ($6.92 higher at the back to $11.42 higher toward the front).

Negotiated cash fed cattle trade was light on very good demand in all major cattle feeding regions through Friday afternoon, according to the Agricultural Marketing Service.

Although too few transactions to trend, there were some FOB live trades in the Texas Panhandle at $232/cwt., which was steady with the previous day and $9 higher than the previous week.

FOB live prices in Kansas were $5 higher than Thursday at $235, which was $13 more than the previous week.

In Nebraska, FOB live prices were $2-$3 higher than Thursday at $242-$244, which was $7 higher than the previous week. Dressed delivered prices for the week were $10-$15 higher at $380.

In the western Corn Belt, FOB live prices were $3-$10 higher at $240, while dressed delivered prices were $9 higher at $380.

Choice boxed beef cutout value was $1.77 lower Friday afternoon at $365.08. Select was 12¢higher at $356.73. Week to week on Friday,         Choice was $1.26 lower and Select was 8¢ higher.

Estimated total cattle slaughter last week of 582,000 head was 105,000 head more than the previous week but 28,000 head fewer than the same week last year. Estimated total year-to-date cattle slaughter of 12.9 million head was 847,000 head fewer (-6.2%) than the same time last year. Estimated year-to-date beef production of 11.2 billion pounds was 328.2 million pounds less (-2.8%).

Turning to the grain complex, Grain and Soybean futures mostly extended gains Friday with support from announced trade talks between the U.S. and China, and perhaps some inkling of a weather premium.

Corn futures closed mostly fractionally higher to 1¢ higher. Kansas City Wheat futures closed 5¢ to 7¢ higher. Soybean futures closed mostly 3¢ higher.