Cattle futures firmed Friday and gained back some of the steep losses from the previous two sessions, helped along by a bounce in wholesale beef values.

Live Cattle futures were an average of 91¢ higher. Feeder Cattle futures were an average of $1.01 higher (62¢ to $1.77 higher).

Week to week on Friday, Live Cattle futures closed an average of $2.61 lower and Feeder Cattle futures closed an average of $2.73 lower ($1.12 lower at the front to $3.47 lower at the back).

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

Last week, FOB live prices were $1-$2 higher in the Texas Panhandle at mostly $220/cwt., steady to $2 higher in Kansas at $220 and $1-$3 higher in the North at $228-$229. Dressed delivered prices were $3 higher at $358.

Choice boxed beef cutout value was $2.59 higher Friday afternoon at $352.49/cwt. Select was $3.21 higher at $342.39. Week to week on Friday, Choice was $6.52 higher and Select was $11.22 higher.

Estimated total cattle slaughter last week of 566,000 head was 7,000 head more than the previous week but 31,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 11.3 million head was 733,000 head fewer (-6.1%) than the same period last year. Estimated year-to-date beef production of 9.8 billion pounds was 262.7 million pounds less (-2.6%).

Grain and Soybean futures were lower Friday.

Corn futures were mostly 2¢ to 3¢ lower, pressured by planting progress and Wheat futures, with Kansas City Wheat futures closing 7¢ to 11¢ lower. Soybean futures were fractionally higher to mostly 1¢ lower.