Cattle futures closed lower Friday.

Live Cattle futures closed an average of $1.33 lower. Feeder Cattle futures closed an average of $2.43 lower, except for $1.05 higher in spot May.

Week to week on Friday, Cattle futures gave back much of the previous week’s gains with Live Cattle an average of $4.04 lower and Feeder Cattle futures down an average of $8.11. Late-week pressure included chatter and algorithm fodder about the DOJ investigation into beef packers.

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

For the week, FOB live prices were $1 higher in the Texas Panhandle at mostly $256/cwt., $1-$5 higher in Kansas at $255-$260, $3-$8 higher in Nebraska at mostly $260 and mostly $5 higher in the western Corn Belt at mainly $260. Dressed delivered prices were mostly $2 higher in Nebraska at mainly $402 and steady to $3 higher in the western Corn Belt at $400-$403.

Choice boxed beef cutout value was $1.45 higher Friday afternoon at $388.39/cwt. Select was 59¢ higher at $385.01.

Estimated total cattle slaughter last week of 527,000 head was 7,000 head fewer than the previous week and 34,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 9.7 million head was 1 million head fewer (-9.4%). Estimated year-to-date beef production of 8.7 billion pounds was 641.4 million pounds less (-6.9%).

Grain and Soybean futures closed higher Friday, buoyed by optimism about next week’s trade talks with China and perhaps some early positioning of next Tuesday’s monthly World Agricultural Supply and Demand Estimates.

Kansas City HRW Wheat futures closed 8¢ to 17¢ higher. Soybean futures closed 10¢ to 17¢ higher. Corn futures closed 3¢ to 4¢ higher.

Week to week on Friday, Corn futures were an average of 7¢ lower through the front six contracts.