Monday markets
Cattle futures closed slightly higher to start the week after both futures and negotiated fed cattle prices posted new lows in the recent move last week.
Live cattle futures closed higher, with the August contract up $1.50 to $220.75, the October contract 95 cents higher to $212.67 and the December contract up 85 cents to $214.57.
Cash trade was minimal, with 34 head sold for $230. On the formula side, 21,600 head averaging 947 lbs. sold for an average of $360.06.
Cash trade for the week ending Aug 30 was 73,257 head. Live steers averaged $219.87, and dressed steers averaged $345.50.
“Packers purchased 73.2k head in last week’s negotiated trade and 35k negotiated grid cattle, so their inventory position would appear to be comfortable, especially with September contract cattle available this week,” wrote Cassie Fish, market analyst, in The Beef. “Average prices for last week aren’t out yet, but the average was generally $4 to $5/cwt lower on average.”
Today’s slaughter is estimated to be 104,000 head, up 6,000 head from last week.
Slaughter for the prior week is projected to be 542,000 head. The total beef production under federal inspection for the week ending Aug. 28 was 478.8 million pounds, up 3.7% from the previous week.
“Packer margins were black last week for the second week running, even with boxed beef prices declining seasonally,” wrote Fish. “The most impactful news of last week was the increase in the weekly slaughter. The industry slaughtered 542k head last week, the fourth largest slaughter of 2026. With more cattle available and margins black, packers cranked slaughter, the most positive fundamental development in months.”
Boxed beef prices were lower on 162 loads, with the Choice cutout down 41 cents to $375.82 and the Select cutout $2.59 lower to $358.49.
Feeder cattle
Feeder cattle futures also closed higher, with the September contract up 55 cents to $321.45 and the October contract 50 cents higher to $317.02.
The CME Feeder Cattle Index was down 67 cents to $332.80.
Corn futures closed higher, with the September contract up 3 cents to $5.15 and the December contract up a penny to $5.37.
Missouri: Joplin Regional Stockyards in Carthage sold 3,500 head on Monday. Compared to the previous auction, feeder steers under 750 lbs. sold $10-15 lower, while heavier weights sold $5 lower to $5 higher. Feeder heifers sold from $5 lower to $5 higher. Benchmark steers averaging 772 lbs. sold from $333-335, averaging $333.58.
Oklahoma: Oklahoma National Stockyards in Oklahoma City sold 3,700 head on Monday. Compared to the last auction, feeder steers and heifers were too lightly tested for a market direction. A significant number of unweaned calves are appearing in the market, and these are trending lower in price. Benchmark steers averaging 718 lbs. sold from $335-350, averaging $339.33. — Charles Wallace, WLJ contributing editor
