Friday markets
Cattle futures are trading higher into midday Friday as the market awaits results from this week’s fed cash trade. Today’s Cattle on Feed report showed cattle and calves on feed down 2%.
“The cattle complex is continuing to trade higher into midday on Friday, as the market is anxious to see what feedlot managers accomplish in this week’s fed cash cattle trade and to see what the Cattle on Feed and Cattle Inventory Report yields later this afternoon,” ShayLe Stewart, DTN livestock analyst, wrote in her midday comments.
Today’s Cattle on Feed report, released after markets closed, showed cattle and calves on feed for the slaughter market in the U.S. for feedlots with a capacity of 1,000 or more head totaled 11.1 million head on July 1, 2025. The inventory was 2% below July 1, 2024. Placements in feedlots during June totaled 1.44 million head, down 8%, and marketings of fed cattle during June totaled 1.71 million head, 4% below 2024.
Live cattle futures closed higher, with the August contract up 67 cents to $226.47 and the October contract gained $1 to close at $223.15.
Cash trade was moderate, with 14,630 head sold. Live steers sold for $23-242, and dressed steers sold between $375-382.
On the formula side, 32,500 head averaging 910 lbs. sold for an average of $369.62.
“A few bids are currently on the table at $230 in Kansas, $238 live in the North and $376 dressed,” Stewart said. “Packer demand should improve as the day trades on, and packers are undoubtedly going to need to get more aggressive before the week’s end, as they can’t afford to go short-bought into next week’s trade.”
Today’s slaughter is estimated to be 96,000 head, and Saturday’s slaughter is projected to be 5,000 head, bringing the estimated weekly total to 549,000 head.
Boxed beef prices were lower on 105 loads, with the Choice cutout down $1.41 to $366.68 and the Select cutout down $2.13 to $344.87.
Feeder cattle
Feeder cattle futures climbed over $2, with the August contract up $2.47 to $331.37 and the September contract up $2.55 to $332.20.
The CME Feeder Cattle Index fell $1.26 to $326.18.
Corn futures closed lower, with the September contract down 2 cents to $3.99 and the December contract down a penny to $4.19.
Kansas: Winter Livestock in Pratt sold 1,531 head on Thursday. Compared to the previous auction two weeks ago, feeder steers 650-900 lbs. sold $5-15 higher. Feeder heifers 600-950 lbs. sold $10-15 higher, with instances of $20 higher. There were not enough calves under 600 lbs. for a market test, but a higher trend was noted. Benchmark steers averaging 770 lbs. sold between $336.25-345, averaging $337.06.
Nebraska: Valentine Livestock in Valentine sold 1,727 head on Thursday. Compared to the last auction two weeks ago, steers 850-950 lbs. traded $2-8 higher. There were no comparable offerings for heifers. Benchmark steers averaging 758 lbs. sold for $370-383, averaging $380.02.
Texas: Cattlemen’s Livestock in Dalhart sold 1,088 head on Thursday. Compared to the last auction, there were few comparable sales on steer and heifer feeders, but a higher undertone was noted. Benchmark steers averaging 766 lbs. sold between $344-350, averaging $348.32. — Charles Wallace, WLJ contributing editor
