Monday markets
Markets found some movement higher following Friday’s news of President Donald Trump planning to lower tariffs.
“The live cattle complex is trading higher into Monday’s noon hour as traders note the announcement that came on Friday that tariffs on food was going to be reduced,” shared ShayLe Stewart, DTN livestock analyst, in her midday comments.
“The current tariff on Brazilian beef remains at 40%, so it’s still unknown how this will affect the greater marketplace as the U.S. still needs lean beef, but a 40% tariff is still a relatively strong barrier,” Stewart said.
Live cattle futures were higher, up $2.12 to $221.27 on the December contract and up $2.25 to $221.77 on the February contract.
Cash trade for the day was light, with less than 200 head sold. On the formula side, a total of 22,100 head averaging 932 lbs. averaged $368.70.
Cash trade for the week ending Nov. 16 totaled 55,342 head. Live steers averaged $225.08, and dressed steers averaged $351.25.
“Packers were able to get some cattle committed for delivery for the weeks of Dec. 1 and Dec. 8 as they slowly, but surely, are buying up supplies to ensure that they’re not short bought in the weeks ahead and potentially run the risk of letting feedlot managers gain the upper hand in the market again,” Stewart said.
Slaughter for the day is estimated at 116,000 head, compared to 113,000 head a week earlier. Total slaughter for last week is projected at 576,000 head, compared to 560,000 head a week earlier.
Boxed beef prices were mixed on 75 loads. The Choice cutout lost 32 cents to close at $370.41, and the Select cutout gained $2.06 to close at $356.30.
“Boxed beef values have struggled in November, never topping the late October high and making new lows for the month again today,” said Cassie Fish, market analyst, in The Beef. “Margins improved but are red to possibly a scratch at some plants. Packers are well aware that more red ink awaits them in 2026 as available supplies tighten again.”
Feeder cattle
Feeder cattle futures were higher, with the November contract up $1.17 to $339.85 and the January contract up $5.72 to $326.27.
The CME Feeder Cattle Index lost $1.84 to close at $341.89.
Corn futures were higher, up 4 cents apiece on the December and March contracts, closing at $4.34 and $4.48, respectively.
Missouri: Joplin Regional Stockyard in Carthage sold 8,500 head on Monday. Compared to a week earlier, feeder steers sold from $4 higher to $6 lower. Feeder heifers sold from $5 higher to $5 lower. Benchmark steers averaging 765 lbs. sold from $341-358, averaging $347.01.
Oklahoma: Oklahoma National Stockyards in Oklahoma City sold 7,000 head on Monday. Compared to a week earlier, all classes of cattle sold unevenly steady, but demand was good. Benchmark steers averaging 777 lbs. sold from $334-349, averaging $345.41.
South Dakota: Sioux Falls Regional in Worthing sold 3,910 head on Monday. Compared to a week earlier, steer calves under 550 lbs. sold steady to $5 higher and over 550 lbs. sold $20-30 higher. Heifer calves sold $10-20 higher. Yearling feeder steers under 1,000 lbs. sold $20 lower and over 1,000 lbs. sold $2 lower. Yearling feeder heifers 750-900 lbs. sold from $5-10 lower and over 900 lbs. sold steady. Benchmark steers averaging 766 lbs. sold for $375. — Anna Miller Fortozo, WLJ managing editor
