Cattle futures extended gains Friday, supported by steady negotiated cash fed cattle prices and a friendly quarterly Hogs and Pigs report indicating the breeding inventory was 1% less year over year.

Live Cattle futures were an average of $2.87 higher. Feeder Cattle futures were an average of $5.93 higher.

Week to week on Friday, Live Cattle futures closed an average of $4.26 higher. Feeder Cattle futures closed an average of $10.14 higher.

Negotiated cash fed cattle trade ranged from inactive on light demand in the Southern Plains to limited on moderate demand in the North through Friday afternoon, according to the Agricultural Marketing Service.

For the week, FOB live prices in the North were steady at $235/cwt. and dressed delivered prices were steady at $372. FOB live prices were $235 in the Southern Plains the previous week.

Choice boxed beef cutout value was $3.12 higher Friday afternoon at $392.97/cwt. Select was $1.79 lower at $389.87. Week to week on Friday, Choice was $7.14 lower and Select was $2.37 lower.

Total estimated cattle slaughter last week of 520,000 head was 17,000 head more than the previous week but 89,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 6.5 million head was 745,000 head fewer (-10.2%) than the same time last year. Year-to-date estimated beef production of 5.96 billion pounds was 492.7 million pounds less (-7.8%).

Grain and Soybean futures were mixed Friday.

Kansas City HRW Wheat futures were 3¢ to 7¢ higher, as traders appeared to continue adding weather premium.

Corn and Soybean futures were lower with likely profit taking and perhaps positioning ahead of next week’s Prospective Plantings and Grain Stocks reports.

Corn futures were 3¢ to 5¢ lower through Jly ‘27. Soybean futures were 12¢ to 14¢ lower through the front three contracts and then 5¢ to 9¢ lower through Aug ‘27.