Monday markets
After trading most of the day on both sides of steady, cattle futures closed in the green.
Live cattle futures closed higher, with the December contract up $1.02 to close at $230.82 and the February contract $1 higher to $230.55.
“Once again, backed up against the market’s 100-day moving average, the live cattle complex is on pins and needles as it desires to trade higher, but traders aren’t confident that the market possesses enough support to conquer its 100-day moving average,” ShayLe Stewart, DTN livestock analyst, wrote in her midday comments.
Today’s cash trade was light, with 286 head sold. On the formula side, 26,800 head averaging 951 lbs. sold for an average of $357.80.
Cash trade for the week ending Dec. 14 was 103,180 head. Live steers averaged $228.13, and dressed steers averaged $353.62.
“Last week’s national negotiated fed cattle trade topped 103k head, the largest of 2025 and 2024,” wrote Cassie Fish, market analyst, in The Beef. “Even with formula numbers down and a big drop in showlists this week, packers appear to have much of the next three weeks’ production schedule covered. After all, the last two weeks of any year see two of the six smallest slaughters annually, with Christmas week almost always the smallest.”
Today’s slaughter is estimated to be 110,000 head, down 5,000 head from the prior week.
Slaughter for the previous week is estimated at 596,000 head, while beef production under federal inspection is projected at 532.4 million lbs.
Boxed beef prices were higher on 114 loads, with the Choice cutout $2.02 higher to $359.46 and the Select cutout up $3.08 to $347.30.
“Boxed beef values declined to new lows for the year last week and even though they printed up at midday today, are expected to continue to erode,” Fish wrote. “After all these big slaughters have thrown a lot of beef at a retail market where prices are historically high. Weekly beef production in the last two weeks have been the two highest of 2025.”
Feeder cattle
Feeder cattle futures closed slightly higher, with the January contract up 82 cents to $339.92 and the March contract 77 cents higher to close at $334.85.
The CME Feeder Cattle Index was $1.30 higher to $346.77.
Corn futures closed lower, with the December and March contracts down a penny to $4.39 and $4.47, respectively.
Missouri: Joplin Regional Stockyards in Carthage sold 11,000 head on Monday. Compared to the last auction at mid-session, feeder steers are selling from $10 lower to $10 higher. Feeder heifers are selling steady to $15 higher. Benchmark steers averaging 763 lbs. sold for $337-375 and averaged $355.24.
Oklahoma: Oklahoma National Stockyards in Oklahoma City sold 8,500 head on Monday. Compared to the last auction at the mid-session, feeder steers sold $4-8 higher, and feeder heifers traded steady to $3.00 higher. Steer calves sold $5-10 lower, and heifer calves traded $10-20 lower. Benchmark steers averaging 720 lbs. sold between $340-381 and averaged $368.76. — Charles Wallace, WLJ contributing editor
