The cattle market traded mixed over the Juneteenth holiday-shortened week.
Live cattle futures experienced some losses over the week. The June contract lost about $3 to close at $254.80, and the August contract lost about $4 to close at $246.62.
“In anticipation of Thursday afternoon’s Cattle on Feed report—and upon seeing no trade yet in the fed cash cattle market—the live cattle contracts are trading lower into the noon hour,” wrote ShayLe Stewart, DTN livestock analyst, in her Thursday midday comments. “Not to mention, midday boxed beef prices are also lower, which doesn’t help matters either.”
Cash trade through Thursday totaled less than 2,000 head. There was no market trend noted for live steers, but dressed steers sold for $410.
Cash trade for the week ending June 14 totaled 49,731 head. Live steers averaged $256.17, and dressed steers averaged $404.89.
“Packers have pared back the slaughter in the hopes of creating more demand from retailers and building numbers of available cattle in the nation’s feedyards,” the Cattle Report wrote on Thursday. “Show lists are larger but inventories the packers have on hand are shorter.”
Slaughter through Thursday totaled 426,000 head, compared to 421,000 head a week earlier. Total slaughter for a week earlier is estimated at 524,000 head. Actual slaughter for the week ending June 6 was 534,560 head. The average steer dressed weight was 969 lbs., 4 lbs. lower than the previous week.
Boxed beef prices traded mostly sideways over the week. The Choice cutout gained 70 cents to close at $393.92, and the Select cutout gained $1.50 to close at $374.75.
“The processors are hoping to revive beef demand by cutting back slaughter volumes and there should be a response in the coming week for box prices,” the Cattle Report said. “Retailers are hesitant to sell beef at a loss—reluctance has slowed movement in the nation’s supermarkets.”
USDA released its latest Cattle on Feed report on Thursday ahead of Friday’s Juneteenth holiday. Cattle and calves on feed as of June 1 totaled 11.7 million head, 2% above last year. Placements during May totaled 1.70 million head, 10% below last year. Marketings were 12% lower at 1.55 million head, the second lowest for May since reporting began in 1996. Other disappearance during May totaled 55,000 head, 11% below 2025.
Feeder cattle
Feeder cattle futures were higher over the week. The August contract gained about $7 to close at $366.60, and the September contract gained about $8 to close at $364.67.
The CME Feeder Cattle Index lost about $4 to close at $364.02.
Corn futures traded modestly higher over the week. The July contract gained 6 cents to close at $4.17, and the December contract gained a penny to close at $4.40.
Missouri: Joplin Regional Stockyards in Carthage sold 8,000 head on Monday. Compared to a week earlier, at the mid-session, feeder steers sold steady to $12 higher. Feeder heifers sold steady to $18 higher. Benchmark steers averaging 771 lbs. sold from $365-394, averaging $378.55.
Oklahoma: Oklahoma National Stockyards in Oklahoma City sold 4,500 head on Monday. Compared to a week earlier, feeder steers sold $2-10 higher, with six-weights selling up to $20 higher. Feeder heifers sold steady to $5 higher. Benchmark steers averaging 775 lbs. sold from $353-384.75, averaging $381.95.
South Dakota: Sioux Falls Regional in Worthing sold 7,570 head on Monday. Compared the previous sale’s limited offering, feeder steers and heifers sold with higher undertones on very good demand. Benchmark steers averaging 782 lbs. sold from $377-409, averaging $389.63. — Anna Miller Fortozo, WLJ managing editor
