Cattle markets saw steady prices over the week as packers secure inventory and feeder cattle demand remains strong.
Live cattle futures traded steady to higher over the week. The April contract gained about a dollar to close at $209.55, and the June contract gained 72 cents to close at $205.80.
“The live cattle complex is back to trading slightly higher as the contracts are no longer up against immediate pressure of hitting resistance points, and given the fact that traders remain hopeful that cash cattle prices will trade steady to somewhat higher again this week,” wrote ShayLe Stewart, DTN livestock analyst, in her Thursday midday comments.
Cash trade through Thursday totaled less than 10,000 head. Live steers sold from $206-213, and no trend was noted on dressed steers.
Cash trade for the week ending March 23 totaled 94,956 head. Live steers averaged $212.69, and dressed steers averaged $335.12.
“Last Friday, the cattle market made a lot of history,” wrote Cassie Fish, market analyst, in The Beef on Monday. “The biggest standout was the negotiated cattle trade with cash prices surging $8 to an all-time high of $213.25, based on the five-area average. Since bottoming four weeks ago, the last week in February, prices have risen nearly $16 or 7.3% of its value.
“Possibly more important than price,” she added, “was the massive transfer of ownership from feeder to packer—95k head, the largest in nearly 6 months.”
With packers owning significantly more inventory, and cash trade near steady money, steady-at-best cash prices are expected this week, Fish said.
Slaughter through Thursday totaled about 485,000 head, compared to 440,000 head a week earlier. Total slaughter for a week earlier is projected at 560,000 head. Actual slaughter for the week ending March 15 was 586,280 head. The average steer dressed weight was 947 lbs., 2 lbs. above the prior week.
Boxed beef prices saw tremendous gains. The Choice cutout gained more than $10 to close at $335.72, and the Select cutout gained just under $10 to close at $319.44.
“This rally is improving packer margins hourly and though it may be early from a seasonal perspective to maintain such powerful velocity, it is 2025, the year that continues to contain multiple surprises,” Fish said on Wednesday in The Beef.
USDA released its latest Cattle on Feed report for cattle and calves on feed as of March 1. Total inventory was 2% lower than last year at 11.6 million head. Placements were 18% lower, and marketings were 9% lower. Other disappearance totaled 7% more than 2024.
Feeder cattle
Feeder cattle futures traded modestly lower over the week. The March contract lost just under a dollar to close at $287.65, and the April contract lost about a dollar to close at $287.55.
“Some of today’s hesitancy could be stemming from the fact that the spot April contract is still relatively near its resistance threshold, which was established just last week,” Stewart said on Thursday. “Nevertheless, the countryside continues to see phenomenal demand from buyers as they know that summertime pastures will be ready in no time.”
The CME Feeder Cattle Index gained $2.25 to close at $286.90.
Corn futures trended lower. The May contract lost 19 cents to close at $4.50, and the July contract lost 17 cents to close at $4.58.
Kansas: Winter Livestock in Dodge City sold 3,683 head on Wednesday. Compared to a week earlier, feeder steers over 600 lbs. sold $10-12 higher. Heifers over 550 lbs. sold $10-20 higher. Steers and heifers under 600 lbs. were not well tested. Benchmark steers averaging 781 lbs. sold from $276-299, averaging $292.97.
Missouri: Joplin Regional Stockyards in Carthage sold 9,000 head on Monday. Compared to the last sale, at the mid-session feeder steers sold from $4 lower to $7 higher. Feeder heifers sold steady to $10 higher. Benchmark steers averaging 783 lbs. sold from $284-296.50, averaging $292.08.
Oklahoma: Oklahoma National Stockyards in Oklahoma City sold 6,500 head on Monday. Compared to a week earlier, feeder steers and calves sold $4-8 higher with 600-700 lbs. selling up to $15 higher. Feeder heifers sold $3-10 higher, and feeder heifers sold $5-12 higher. Demand was very good for all classes. Benchmark steers averaging 771 lbs. sold from $288-313, averaging $294.89.
South Dakota: Sioux Falls Regional Cattle in Worthing sold 3,370 head on Monday. Compared to the last auction, feeder steers sold $5-10 higher, with instances of $15 higher. Feeder heifers under 700 lbs. sold $10-20 higher, and over 700 lbs. were $5-10 higher. Benchmark steers averaging 716 lbs. sold for $300-332, averaging $320.95.
Wyoming: Torrington Livestock in Torrington sold 3,316 head on Wednesday. Compared to a week earlier, steers and heifers sold $5-11 higher. Benchmark steers averaging 778 lbs. sold from $296-312, averaging $306.07. — Anna Miller, WLJ managing editor
