Cattle futures plumbed lower Friday, with continued concern about a potential strike at the JBS packing plant in Greeley, Colo., lower cash fed cattle prices, bearish outside markets, as well as month-end profit taking and technical selling.

Live Cattle futures were an average of $3.49 lower. Feeder Cattle futures were an average of $7.51 lower.

Week to week on Friday, Live Cattle futures closed an average of $6.30 lower ($2.57 lower in expiring Feb to $9.77 lower). Feeder Cattle futures closed an average of $12.88 lower.

Negotiated cash fed cattle ranged from moderate on light to moderate demand in the Texas Panhandle to moderate on moderate demand elsewhere through Friday afternoon, according to the Agricultural Marketing Service.

For the week, FOB live prices were $5 lower in the Southern Plains at $244/cwt. and $4-$5 lower in the western Corn Belt at $240-$243. Prices in Nebraska the previous week were $247-$248.

Dressed delivered prices were $5 lower in Nebraska at $383. The previous week, prices were $388 in the western Corn Belt.

Choice boxed beef cutout value was $1.95 higher Friday afternoon at $379.84/cwt. Select was $3.52 higher at $374.31. Week to week on Friday, Choice was $13.14 higher at $379.84/cwt. and Select was $13.57 higher.

Estimated total cattle slaughter last week of 516,000 head was the same as the previous week but 53,000 head fewer than the same week last year. Total year-to-date estimated cattle slaughter of 4.5 million head was 501,000 head fewer (-10.1%) than the same week last year. Estimated year-to-date beef production of 4 billion pounds was 342.3 million pounds less (-7.9%).

Wheat futures led the grain complex ahead on Friday, closing 10¢ to 21¢ higher on short covering tied to weather concerns in India.

Corn futures were 2¢ to 5¢ higher through near Dec and then mostly 1¢ higher.

Soybean futures were 4¢ to 9¢ higher through near Aug  and then mostly 1¢ lower to 1¢ higher.