Friday markets
“It’s a breakout day for the live cattle complex as the market has shot above its 100-day moving average for the first time since late October,” wrote ShayLe Stewart, DTN livestock analyst, in her midday comments.
Live cattle futures closed several dollars higher. The February contract gained $4.40 to close at $236, and the April contract gained $3.77 to close at $235.97.
“More than anything, it seems to be a combination of trade support mixed with the knowingness that demand is likely only going to get stronger through the first half of the year, with traders also noting the uptick in cash cattle prices today,” Stewart said.
Cash trade for the day totaled about 15,000 head. Live steers sold from $230-232, and dressed steers sold from $355-360. Total cash trade for the week so far was about 25,000 head.
Slaughter for the day is estimated at 116,000 head, compared to 107,000 head a week earlier. With tomorrow’s slaughter expected at 33,000 head, total slaughter for the week is projected at 474,000 head, compared to 426,000 head a week earlier.
Boxed beef prices were higher on 85 loads. The Choice cutout gained $2.52 to close at $349.97, and the Select cutout gained $4.54 to close at $346.92.
Feeder cattle
“The feeder cattle complex is also skyrocketing higher as traders note the uptick in the live cattle complex and continue to be optimistic that the market is likely going to trade stronger and stronger through at least the first quarter of 2026,” Stewart said.
Feeder cattle futures closed several dollars higher. The January contract gained $5.85 to close at $356.10, and the March contract gained $352.95.
The CME Feeder Cattle Index gained 21 cents to close at $348.65.
Corn futures were lower, down 2 cents on the March contract to $4.37 and down 2 cents on the May contract to $4.44. — Anna Miller Fortozo, WLJ managing editor
