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

For the week, FOB live prices were $1 higher in the Southern Plains at $186/cwt., $2.00 higher in Nebraska at $187-$188 and $3 higher in the western Corn belt at $188-$189. Dressed delivered prices were mostly $6 higher at $298.

Choice boxed beef cutout value was $1.12 higher Friday afternoon at $311.90/cwt. Select was 71¢ higher at $302.40/cwt.

Total estimated cattle slaughter of 601,000 head last week was 18,000 head more than the previous week but 27,000 head fewer than the same week last year. Year-to-date estimated cattle slaughter of 6.5 million head was 381,000 head fewer (-5.5%) than the same time last year. Year-to-date estimated beef production of 5.5 billion pounds was 244.1 million pounds less (-4.3%).

Strong cash fed cattle prices and supportive wholesale beef values helped Cattle futures close mostly higher Friday.

Live Cattle futures closed an average of 33¢ higher.

Feeder Cattle futures closed an average of 92¢ higher (27¢ to $1.80 higher), except for an average of 46¢ lower in the back two contracts.

Corn futures closed 2¢ to 3¢ higher.

KC HRW Wheat futures closed 5¢ to 8¢ lower.

Soybean futures closed 2¢ to 3¢ higher.