Cattle markets showed mixed signals over the week, with live cattle futures moving lower while feeder cattle prices remained mostly firm.
Live cattle futures traded lower. The October contract lost about $2 to close at $227.27, the December contract lost about $5 to close at $226.30 and the February contract closed at $229.47.
“The live cattle complex is continuing to trade lower as traders remain leery of whether or not adequate fundamental support is going to develop later this week,” wrote ShayLe Stewart, DTN livestock analyst, in her Thursday midday comments.
Cash trade through Thursday totaled about 47,000 head. Live steers sold from $223-225, and dressed steers sold from $348-365.
Cash trade for the week ending Oct. 25 totaled 40,128 head. Live steers averaged $227.06, and dressed steers averaged $360.79.
The national weekly direct beef type price distribution for the week of Oct. 19-26 was the following on a live basis:
• Negotiated purchases: $228.03.
• Formula net purchases: $229.24.
• Forward contract net purchases: $233.61.
• Negotiated grid net purchases: $235.04.
On a dressed basis:
• Negotiated purchases: $359.40.
• Formula net purchases: $360.82.
• Forward contract net purchases: $371.82.
• Negotiated grid net purchases: $350.62.
Slaughter through Thursday totaled about 434,000 head, compared to 430,000 head a week earlier. Total slaughter for a week earlier is expected at 546,000 head. Actual slaughter for the week ending Oct. 17 was 555,342 head. The average steer dressed weight was 994 lbs., up 8 lbs. from the prior week.
Boxed beef prices were mixed over the week. The Choice cutout lost about $2 to close at $367.28, and the Select cutout gained about $1 to close at $351.63.
The lean beef trim contracts stayed unchanged over the week. The 50% lean beef trim October contract closed at $88.30, and the November contract closed at $85.30. The 90% lean beef trim October contract closed at $416, and the November contract closed at $397.
USDA released its latest Cattle on Feed report on Oct. 23. As of Oct. 1, total cattle and calves on feed was 11.4 million head, slightly below last year’s levels. Placements during September totaled 1.78 million head, 12% below 2025. Marketings were 1.52 million head, 7% below last year. Other disappearance totaled 49,000 head, 4% lower than 2025.
Feeder cattle
Feeder cattle futures traded mixed over the week. The October contract gained about $4 to close at $351.10, the November contract lost 45 cents to close at $346.47 and the January contract closed at $341.95.
The CME Feeder Cattle Index gained about $8 to close at $351.
“The feeder cattle complex is also trading lower as it doesn’t want to move oppositely of the live cattle market and would also like to see continued fundamental support,” Stewart said. “If the board continues to trend lower, feeder cattle prices in the countryside could soften.”
Corn futures traded lower. The December contract lost 9 cents to close at $4.51, and the March contract lost 10 cents to close at $4.64.
Iowa: Russell Livestock in Russell sold 1,601 head on Monday. Compared to the last auction two weeks earlier, steers under 550 lbs. and over 650 lbs. sold sharply higher, while steers between 550-65- lbs. sold $2-5 lower. Heifers sold mostly $4 higher. Benchmark steers averaging 783 lbs. sold from $339-370.25, averaging $363.41.
Missouri: Joplin Regional Stockyards in Carthage sold 8,000 head on Monday. Compared to a week earlier, at the mid-session, feeder steers under 600 lbs. sold from $5 lower to $5 higher. Heavier weights sold $5-12 higher. Feeder heifers sold from $4-13 higher. Benchmark steers averaging 770 lbs. sold from $338-364, averaging $353.40.
Montana: Miles City Livestock in Miles City sold 3,439 head on Tuesday. Compared to the last auction, steer calves 400-499 lbs. sold sharply higher with most sales $20-40 higher, and 500 lbs. and heavier sold mostly $5-10 higher. Heifers 400-499 lbs. sold mostly steady, 500-549 lbs. sold steady to $5 lower, and over 550 lbs. sold $5-10 lower. A group of unweaned steers averaging 720 lbs. sold for $374.50.
Oklahoma: Oklahoma National Stockyards in Oklahoma City sold 6,000 head on Monday. Compared to a week earlier, feeder steers sold $5-15 higher, and 600-700 lbs. sold $20-30 higher. Feeder heifers sold $2-10 higher. Steer and heifer calves sold $15-30 higher. Benchmark steers averaging 772 lbs. sold from $336-375.25, averaging $367.07.
South Dakota: Sioux Falls Regional in Worthing sold 5,174 head on Monday. Compared to the previous auction, yearling feeder steers sold steady to firm, and yearling feeder heifers sold steady to $3 higher, with instances of $8-10 higher on lighter-fleshed heifers. This was the first good test for steer and heifer calves; there were no good comparisons available. Benchmark steers averaging 772 lbs. sold from $341-372, averaging $355.49.
Texas: Giddings Livestock in Giddings sold 1,093 head on Monday. Compared to the last auction, feeder steers and heifers were fully steady. High demand for the fancy replacement heifers. Benchmark steers averaging 711 lbs. sold from $320-330, averaging $321.97.
Utah: Producers Livestock in Salina sold 2,833 head on Tuesday. Compared to the last auction, feeder steers sold unevenly steady and heifers sold $8-18 lower. Benchmark steers averaging 724 lbs. sold from $335-355, averaging $346.95. — Anna Miller Fortozo, WLJ managing editor
