(Editor’s note: This report compares the latest market information to Tuesday, Nov. 25 due to an earlier Thanksgiving press schedule.)
Cattle futures surged following the Thanksgiving week, pushing fed cattle higher and lifting optimism heading into December.
Live cattle futures saw tremendous gains over the week. The December contract gained about $14 to close at $221.45, and the February contract gained about $17 to close at $224
“The live cattle complex enjoyed a day of mostly widespread support as, not only did the futures contracts continue to scale higher through Thursday’s close, but the stronger presence of the futures market helped start some positive business in this week’s fed cash cattle market too,” wrote ShayLe Stewart, DTN livestock analyst, in her Thursday closing comments.
Cash trade totaled about 18,000 head. Live steers sold from $217-220, and dressed steers sold from $340-345.
Cash trade through Nov. 30 totaled 55,928 head. Live steers averaged $211.38, and dressed steers averaged $329.44.
Slaughter through Thursday totaled about 475,000 head. Total slaughter for a week earlier was estimated at 501,000 head for the holiday-shortened week. Actual slaughter for the week ending Nov. 22 was 588,843 head. The average steer dressed weight was 988 lbs.
Boxed beef prices were lower over the week. The Choice cutout lost about $8 to close at $362.72, and the Select cutout lost about $5 to close at $350.32.
“No one expects the support that has held the Choice boxed beef market since May 2025 to sustain over the next three months,” wrote Cassie Fish, market analyst, in The Beef on Thursday. “When support is taken out, packer margins will be under pressure and slaughter schedules will be reduced.”
Feeder cattle
“Upon seeing continued support from the futures market and from the live cattle complex in the form of stronger fed cash cattle trade and a rallying futures complex, it was an easy decision for the feeder cattle complex to trade higher through Thursday’s close,” Stewart said.
Feeder cattle futures saw immense gains over the week. The January contract gained nearly $30 to close at $336.57, and the March contract gained about $29 to close at $329.72.
The CME Feeder Cattle Index lost about $5 to close at $341.80.
Corn futures were higher, up 14 cents on the December contract to $4.37 and up 9 cents to $4.47 on the March contract.
Missouri: Joplin Regional Stockyards in Carthage sold 6,000 head on Monday. Compared to a week earlier, feeder steers and heifers sold $5-20 higher. Benchmark steers averaging 764 lbs. sold from $330-338, averaging $331.68.
Oklahoma: Oklahoma National Stockyards in Oklahoma City sold 4,500 head on Monday. Compared to the light test a week earlier, feeder steers sold $8-15 higher and feeder heifers sold $15-25 higher. Steer and heifer calves sold $20-30 higher with instances of $40 higher. Benchmark steers averaging 760 lbs. sold from $310-335, averaging $331.96.
South Dakota: Sioux Falls Regional in Worthing sold 1,581 head on Monday. Compared to the last sale, steer and heifer calves sold with much higher undertones. The only good comparisons of yearling steers were 900-950 lbs. sold $40 higher and 1,050-1,100 lbs. sold $7 higher. Yearling feeder heifers weighing 700 lbs. sold $40 higher. — Anna Miller Fortozo, WLJ managing editor
