Friday markets
Cattle futures closed mixed to end the week. USDA reported cattle on feed were up 1%, while marketing and placements were at their lowest level since 1996.
USDA’s latest Cattle on Feed report showed 11.2 million cattle and calves on feed in feedlots with capacity of 1,000 head or more as of Sept. 1, up 1% from a year earlier. August placements totaled 1.62 million head, down 9% from 2025 and the lowest August total since the series began in 1996. Net placements were 1.57 million head. Feedlot marketings also reached a record low for the month, with 1.52 million head marketed during August, down 3% from a year ago. Other disappearances totaled 52,000 head, up 2% from August 2025.
Live cattle futures closed higher, with the October contract up 27 cents to $215.92 and the December contract 37 cents higher to $216.62.
Cash trade was moderate, with 5,436 head sold. Live steers sold from $220-222.50, and dressed steers sold between $346-350. On the formula side, 27,300 head averaging 947 lbs. sold for an average of $361.63.
“Sales were reported in the North at $222-223 live and $350-355 dressed,” the Cattle Report wrote. “These prices were steady with last week despite crashing futures prices. Processors will attempt to hold positive margins by managing the slaughter volumes each week and balancing box prices against spot cash prices for cattle. No sales were reported in the South.”
Today’s slaughter is estimated to be 101,000 head, 5,000 head below last week. Saturday’s slaughter is projected at 8,000 head, bringing the estimated weekly total to 529,000 head.
Boxed beef prices were mixed on 86 loads, with the Choice cutout down 21 cents to $371.94 and the Select cutout up $1.38 to $353.26.
Feeder cattle
Feeder cattle futures closed lower, with the September contract down $1.25 to $333.57 and the October contract 87 cents lower to $323.50.
The CME Feeder Cattle Index was up $1.16 to $342.74.
Corn futures closed lower, with the December and March contracts down 3 cents to $5.27 and $5.41, respectively.
Kansas: Farmers and Ranchers Livestock in Salina sold 2,406 head on Thursday. Compared to the previous auction, steers 500-800 lbs. sold $10-15 higher and over 800 lbs. traded steady to $3 lower. Steers under 500 lbs. were not enough for a market test. Heifers 700-900 lbs. sold steady to $3 higher, and under 700 lbs. were not enough for a true market test, but a higher undertone was noted. Benchmark steers averaging 767 lbs. sold for $346.50-368.50, averaging $358.19.
South Dakota: Mitchell Livestock in Mitchell sold 2,331 head on Thursday. A trend could not be established since the last sale three weeks ago, but steers and heifers showed a higher undertone. Benchmark steers averaging 778 lbs. sold for $339-366, averaging $353.72.
Texas: Cattlemen’s Livestock in Dalhart sold 1,525 head on Thursday. A trend could not be established since the last sale, but calves and feeders sold well above their counterparts two weeks ago. Benchmark steers averaging 788 lbs. sold for $330-351, averaging $345.71. — Charles Wallace, WLJ contributing editor
