Cattle futures traded sideways compared to numbers reported a week earlier but ultimately traded lower over the week amid industry rumors of another beef plant closure.
Live cattle futures traded mostly sideways over the week. The October contract lost less than a dollar to close at $215.65, and the December contract lost about $1.50 to close at $216.25.
“One sure fire way to cause cattle futures to decline is rumors of a plant closing,” the Cattle Report wrote on Thursday. “The recent large movements of futures prices in cattle have been tied to insider trading where some parties know of the planned announcement while the public is unaware. The past three days have featured large downward moves in the futures market for cattle with no reasonable explanation. Now we await an announcement.”
Cash trade through Thursday totaled about 40,000 head. Live steers sold from $220-223, and dressed steers sold from $348-355.
Cash trade for the week ending Sept. 13 totaled 66,775 head. Live steers averaged $223.38, and dressed steers averaged $350.55.
“Cash trade waited until Friday (last week) to begin in earnest, even continuing on Saturday as packers scrambled to cover cattle inventory needs, buying 67k head and paying up $3.76/cwt on average from $219.08 the prior week which was the low for 2026 so far,” said Cassie Fish, market analyst, in The Beef on Monday. “Expectations for this week are $1 to $2/cwt higher.”
Slaughter through Thursday totaled about 420,000 head, compared to 329,000 head a week earlier during the Labor Day week. Total slaughter for a week earlier is estimated at 505,000 head. Actual slaughter for the week ending Sept. 5 was 534,523 head. The average steer dressed weight was 973 lbs., up 4 lbs. from the prior week.
“The Cargill Fort Morgan plant is back in operation and processing margins remain positive,” the Cattle Report wrote on Monday. “This will encourage larger weekly volumes of slaughter. Larger slaughter translates into more current feedlot supplies and given the past few months of placements of cattle on feed, the supplies in the feedlot are not yet ready to increase.”
Boxed beef prices traded lower. The Choice cutout lost about $6 to close at $372.15, and the Select cutout lost less than a dollar to close at $351.88.
“The irony of the recent price activity for beef is since Trump’s announcement on beef imports, the lower prices have been borne by cattle owners as processors recovered from $300/head losses to modest profits of $100/head,” the Cattle Report said. “Consumers have found little benefit as box prices moved sideways.”
The lean beef trim contracts closed mixed. The 50% lean trim futures closed sharply lower, down about $15 to $137.70 on the September contract and down about $13 to $132 on the October contract. The 90% lean trim futures closed mildly higher, up about $2 apiece on the September and October contracts to close at $442.50 and $426.70, respectively.
Feeder cattle
Feeder cattle futures traded mixed over the week. The September contract gained $3 to close at $334.82, and the October contract lost about $2 to close at $324.37.
The CME Feeder Cattle Index gained more than $15 to close at $342.74.
Corn futures traded sideways. The December contract lost a penny to close at $5.30 and the March contract gained 5 cents to close at $5.44.
Missouri: Joplin Regional Stockyards in Carthage sold 10,000 head on Monday. Compared to the sale held two weeks earlier, feeder steers under 600 lbs. sold $20-30 higher, with heavier weights selling steady to $5 higher. Benchmark steers averaging 764 lbs. sold from $331-344, averaging $338.73.
Oklahoma: Oklahoma National Stockyards in Oklahoma City sold 5,800 head on Monday. Compared to the sale held two weeks earlier, feeder steers and steer calves sold $15-25 higher. Feeder heifers sold $10-15 higher, and heifer calves sold $15-20 higher. Benchmark steers averaging 737 lbs. sold from $343-377, averaging $352.04.
South Dakota: Sioux Falls Regional in Worthing sold 1,205 head on Monday. Compared to the sale held two weeks earlier, there were too few comparable offerings for a market comparison, but higher undertones were noted. Benchmark steers averaging 734 lbs. sold from $363-369, averaging $365.23. — Anna Miller Fortozo, WLJ managing editor
