Friday markets
Cattle futures rebounded from early lows, with the livestock complex turning higher in today’s trading.
Live cattle futures were slightly higher, with the December contract up 15 cents to $219.15 and the February contract 57 cents higher to close at $219.52.
Cash trade was moderate, with 2,652 head sold. Live steers sold for $218-227, and dressed steers sold for $350.
On the formula side, 26,800 head averaging 929 lbs. sold for an average of $366.82.
Today’s slaughter is estimated to be 93,000 head, 3,000 head lower than a week earlier. Saturday’s slaughter is projected to be 12,000 head, bringing the estimated weekly total to 576,000 head.
Boxed beef prices were lower on 128 loads, with the Choice cutout down $2.84 to $370.73 and the Select cutout 79 cents lower to $354.24.
ShayLe Stewart, DTN livestock analyst, summed up the USDA’s November World Agricultural Supply and Demand Estimates (WASDE) report for cattle and beef markets in 2025 and 2026, stating production estimates were reduced due to slower fed cattle slaughter speeds. Beef output for 2025 was lowered by 70 million pounds, while 2026 production is now projected at 25.49 billion lbs.—down 100 million from September—reflecting lighter processing and longer feeding times. Steer price forecasts also declined, with fourth-quarter 2025 prices averaging $234 and early 2026 quarters ranging from $242 to $248, while beef exports for 2025 fell by 10 million lbs.
Feeder cattle
Feeder cattle futures also finished the day in the green, with the November contract up $1.67 to $338.67 and the January contract $2.10 higher to close at $320.55.
The CME Feeder Cattle Index was up $1.75 to $342.42.
Corn futures closed lower following the WASDE report showing production cuts, with both the December and March contracts down 11 cents to $4.30 and $4.44, respectively.
Kansas: Winter Livestock in Pratt sold 1,795 head on Thursday. Compared to the last auction, feeder steers and heifers 475-950 lbs. sold $5-20 higher, with instances of up to $30 higher. Benchmark steers averaging 734 lbs. sold for $330-349 and averaged $342.02.
Montana: Billings Livestock in Billings sold 3,982 head on Thursday. Compared to the last auction, steer calves 400-599 lbs. sold mostly $10-15 higher, and over 600 lbs. sold mostly $5 higher. Heifer calves under 450 lbs. sold sharply higher, with most sales $20-35 higher; 450-599 lbs. sold $8-10 higher; and over 600 lbs. were too lightly tested last week to develop an accurate market trend, but a steady to firm undertone was noted. A group of steers averaging 680 lbs. sold for $381-392, averaging $383.84.
Texas: Cattlemen’s Livestock in Dalhart sold 1,094 head on Thursday. There were few comparable sales to establish an accurate trend, but bigger cattle are continuing steady with high demand. Benchmark steers averaging 736 lbs. sold for $360-364 and averaged $361.90. — Charles Wallace, WLJ contributing editor
