Cash trade remained slow to develop over the week, while live cattle futures trended lower as traders monitored recent headlines for direction.
Futures took a dip after President Donald Trump’s announcement the first week of February to open up the country to more beef imports from Argentina. Also, the UFCW Local 7 in Greeley, CO, voted to strike at the JBS fed cattle processing plant in early February, but no further details about the strike date have emerged yet.
Live cattle futures closed lower over the week. The February contract lost about $7 to close at $242.50, and the April contract lost about $5 to close at $240.65.
“Following Wednesday’s sizeable rally, the live cattle complex is back to trading slightly lower as the market tries to patiently wait to see what’s going to develop in the fed cash cattle market this week,” wrote ShayLe Stewart, DTN livestock analyst, in her Thursday midday comments.
“But in the lightning fast world we live in, waiting until the very bitter end of the week to see what’s going to develop fundamentally for the market is a painful waiting lesson traders aren’t necessarily fond of,” she added.
Cash trade through Thursday totaled about 1,000 head. No market trends were noted.
Cash trade for the week ending Feb. 8 was 62,602 head. Live steers sold for an average of $241.13, and dressed steers averaged $377.97.
The national weekly direct beef type price distribution for the week of Feb. 2-9 was the following on a live basis:
• Negotiated purchases: $241.16.
• Formula net purchases: $240.76.
• Forward contract net purchases: $239.61.
• Negotiated grid net purchases: $245.93.
On a dressed basis:
• Negotiated purchases: $378.10.
• Formula net purchases: $377.76.
• Forward contract net purchases: $362.06.
• Negotiated grid net purchases: $370.97.
Slaughter through Thursday totaled about 454,000 head, compared to 450,000 head a week earlier. Total slaughter for a week earlier is projected at 536,000 head. Actual slaughter for the week ending Jan. 31 was 526,319 head. The average steer dressed weight was 981 lbs., down 6 lbs. from the prior week.
“The wholesale beef market remains under seasonal pressure this week,” said Cassie Fish, market analyst, in The Beef on Thursday. “Production schedules continue to be historically small, even for February, which is always the smallest slaughter month of the year.”
Boxed beef prices closed lower. The Choice cutout lost $2.41 to close at $364.84, and the Select cutout lost $2.66 to close at $363.03.
“Less fed cattle packing plant capacity is a new fact in 2026 and looking ahead as the packing industry swims deeply in the red, further contraction is certainly possible if not likely,” Fish said. “More imported beef flowing into the U.S. is anticipated in 2026 just as beef exports continue to shrink. The industry has and is changing rapidly in real time.
“About the only thing that hasn’t changed is the beef industry still needs the consumer,” she added.
Feeder cattle
Feeder cattle futures traded back and forth but ultimately closed modestly higher. The March contract gained $1.65 to close at $365.72, and the April contract gained about $4 to close at $363.62.
The CME Feeder Cattle Index lost about 20 cents to close at $374.36.
Corn futures continue to trade sideways. The March contract lost 4 cents to close at $4.31, and the May contract lost 2 cents to close at $4.41.
“Demand has been mostly strong this week in the countryside for both feeder cattle and calves— and especially for cattle that will make yearlings this upcoming summer,” Stewart said.
Colorado: Winter Livestock in La Junta sold 1,705 head on Wednesday. Compared to the last auction, feeder steers sold unevenly steady across all weight classes. Feeder heifers under 700 lbs. sold mostly sharply lower, and over 700 lbs. sold $6-8 higher. Benchmark steers averaging 712 lbs. sold between $388-393.50, averaging $391.98.
Missouri: Joplin Regional Stockyards in Carthage sold 13,000 head on Monday. Compared to a week earlier, feeder steers under 750 lbs. sold $5-20 higher with heavier weights $5-10 higher. Feeder heifers sold $5-22 higher. Benchmark steers averaging 779 lbs. sold from $356-384, averaging $364.54.
Montana: Miles City Livestock in Miles City sold 961 head on Tuesday. Compared to the previous auction, steers 550-699 lbs. sold mostly $5-10 higher in a narrow comparison. All other steer weights were tested too lightly to develop a full market trend, but steady to higher undertones were noted. Heifers 500-649 lbs. sold mostly steady to $5 higher. Benchmark steers averaging 750 lbs. sold for $396.
New Mexico: Roswell Livestock in Roswell sold 1,001 head on Tuesday. Compared to the previous auction, weaned and vaccinated steer and heifer calves sold higher, with plainer calves being lower. Feeder steers sold $6-8 higher, and heifer yearlings were $9-18 higher. Benchmark steers averaging 791 lbs. sold for $373.
Oklahoma: Oklahoma National Stockyards in Oklahoma City sold 9,500 head on Monday. Compared to a week earlier, at the mid-session, steers sold mostly steady to $5 higher, with an increase noted on 700-800 lbs. Feeder heifers sold $5-15 higher. Stocker cattle sold $15-25 higher. Benchmark steers averaging 772 lbs. sold from $355-381, averaging $368.92.
South Dakota: Sioux Falls Regional in Worthing sold 5,198 head on Monday. Compared to the previous auction, feeder steers under 700 lbs. sold $4-10 higher, and over 700 lbs. sold mostly $1 higher, except 850-900 lbs. traded $6 lower. Feeder heifers under 600 lbs. sold sharply lower, and over 600 lbs. sold unevenly steady, with the exception of 750-850 lbs., which traded $7-10 lower. Benchmark steers averaging 729 lbs. sold between $392.50-426, averaging $407.82.
Texas: Lonestar Stockyards in Wildorado sold 2,051 head on Tuesday. Compared to the last auction, feeder steers traded $5-10 higher. Feeder heifers traded mostly steady to $2 higher. Benchmark steers averaging 773 lbs. sold between $364-384, averaging $371.67. — Anna Miller Fortozo, WLJ managing editor
