Friday markets
The cattle market wrapped up the week on a high note. Futures were boosted as cash trade reached record levels.
“It’s been another prosperous day for the live cattle complex as the contracts are continuing to rally thanks to the tremendous demand in which the week has seen from both boxed beef prices and the fed cash cattle market,” said ShayLe Stewart, DTN livestock analyst, in her midday comments.
Live cattle futures were higher, up $1.17 to $198.77 on the February contract and up $1.20 to $199.47 on the April contract.
Cash trade for the day totaled about 11,000 head. Live steers sold from $200-204, and dressed steers sold from $320-330. Total cash trade for the week so far is projected at about 65,000 head.
“So far this week, Southern live cattle have traded at mostly $200 which is $4 higher than last week’s weighted average and yet again another new all-time record high,” Stewart said. “And dressed cattle sales in the North have been mostly marked at $320, which is $5 higher than last week’s weighted average and another new all-time market high.”
Slaughter for the day is estimated at 105,000 head. With tomorrow’s slaughter expected at 10,000 head, total slaughter for the week is projected to be 589,000 head. A week earlier, total slaughter was estimated at 506,000 head. Actual slaughter for the holiday week ending Dec. 28 totaled 433,042 head.
Boxed beef prices were higher on 128 loads. The Choice cutout gained $2.06 to close at $332.84, and the Select cutout gained $5.79 to close at $314.14.
“Friday’s WASDE report was mostly supportive for the cattle and beef markets in 2025,” Stewart said. “2025 beef production jumped by 125 million pounds as steer and heifer slaughter speeds are faster than originally assumed.”
She added, “Although I personally don’t agree with their assumption that heifer retention may partly be a factor here as well, that is what USDA officials noted.”
Feeder cattle
Feeder cattle futures continued their upward trend, up $3.12 to $272.35 on the January contract and up $1.10 to $269.40 on the March contract.
The CME Feeder Cattle Index gained $2.14 to close at $275.
Corn ending stocks were 1.54 billion bushels, down 198 million bushels from last month’s report, sending futures higher. Corn futures were up 14 cents to $4.70 on the March contract, and up 15 cents to $4.79 on the May contract. — Anna Miller, WLJ managing editor
