With the Fourth of July holiday just around the corner, cattle markets are bracing for a seasonal slowdown. Futures softened over the week, and slaughter volumes were expected to be lower due to plant closures.
Live cattle futures were lower over the week, with the June contract down about $3 to $221.70 and the August contract down about $2 to $209.20.
“Overall trade may become increasingly sluggish next week due to the Fourth of July holiday, but traders still remain focused on the recent market support which has developed over the past two months, and continue to look for additional support to be seen in order to curb the current market correction seen over the past two weeks,” read DTN’s midday Thursday comments.
Cash trade through Thursday totaled about 10,000 head. Live steers sold from $223-232, and dressed steers sold from $365-368.
Cash trade for the week ending June 22 totaled 59,291 head. Live steers averaged $235.31, and dressed steers averaged $376.56.
Slaughter through Thursday totaled about 452,000 head, compared to 451,000 head a week earlier. Total slaughter for a week earlier is estimated at 554,000 head. Actual slaughter for the week ending June 14 was 560,282 head. The average steer dressed weight was 931 lbs.
DTN said there were reports of packing plants closing toward the end of the week, with the Grand Island, NE, JBS plant limiting production due to flooding, heavy rainfall and lagoon issues. Tyson’s Amarillo, TX, plant was expected to be closed on Thursday and Friday due to labor issues. Workers were set to vote on whether to strike or not.
Boxed beef prices were slightly higher over the week, up about $1.26 to $395.05 on the Choice cutout and up $5.15 to $379.74 on the Select cutout.
USDA released its Cattle on Feed report on June 20, reporting total cattle on feed down 1% from last year. Placements were 8% lower, and marketings were 10% below 2024. Other disappearance totaled 62,000 head, unchanged from last year.
Feeder cattle
Feeder cattle futures traded steady to lower over the week. The August contract lost about a dollar to $303.30, and the September contract lost about 50 cents to close at $303.37.
The CME Feeder Cattle Index lost 44 cents to close at $310.60.
Corn futures dropped lower, down about 24 cents to $4.09 on the July contract and down 25 cents to $4.04.
Missouri: Joplin Regional Stockyards in Carthage sold 8,000 head on Monday. Compared to a week earlier, feeder steers under 700 lbs. sold steady to $10 lower, with heavier weights selling steady to $10 higher. Feeder heifers sold from $7 higher to $10 lower. Benchmark steers averaging 771 lbs. sold from $310-325, averaging $316.04.
Nebraska: Tri-State Livestock in McCook sold 680 head on Monday. Compared with the last auction two weeks ago, steers 850-900 lbs. sold $5 higher. Demand was good on all offerings. Benchmark steers averaging 728 lbs. sold for $336.
Oklahoma: Oklahoma National Stockyards in Oklahoma City sold 5,200 head on Monday. Compared to a week earlier, feeder cattle and calves sold mostly steady and unweaned calves sold $5-10 lower. Benchmark steers averaging 778 lbs. sold from $309.50-314, averaging $312.18.
Texas: Giddings Livestock in Giddings sold 1,242 head on Monday. Compared to the last auction, feeder steers sold $7-9 lower and feeder heifers were $4-7 lower. Benchmark steers averaging 716 lbs. $300-340, averaging $314.59. — Anna Miller Fortozo, WLJ managing editor
