Thursday markets
Cattle futures closed mixed as traders await tomorrow’s Cattle on Feed report.
Live cattle futures closed mixed, with the August contract down 7 cents to $223.35 and the October contract up 77 cents to $218.
Cash trade was moderate, with 5,343 head sold. Live steers sold from $225-227, and dressed steers sold between $355-356. On the formula side, 21,400 head averaging 939 lbs. sold for an average of $366.
“This week’s negotiated fed cattle trade has occurred in the north and is $3 lower live at $225.28 average and $6.50 lower dressed at $355.42—the week-to-date total this morning is 40k head,” wrote Cassie Fish, market analyst, in The Beef. “This morning $225 bids south and north were renewed but were being passed. The south’s numbers are tightening, and it’s expected the south will go premium to the north this week. Also, the USDA has stopped reporting the negotiated fed cattle market in Kansas due to ‘confidentiality’ rules. Transparency continues to erode in our cash markets.”
Today’s slaughter is estimated to be 103,000 head, 3,000 head lower than last week.
Actual slaughter for the week of Aug. 8 was 505,828 head. The average steer dressed weight was 967 lbs., up 5 lbs. from the prior week.
Boxed beef prices were lower on 110 loads, with the Choice cutout down $5.06 to $389.93 and the Select cutout down 43 cents to $363.74.
The lean beef trim contracts were unchanged. The 50% lean trim August contract was unchanged at $161, and the September contract was also unchanged at $151. The 90% lean beef trim August contract was unchanged at $449, and the September contract was also unchanged at $445.
Pre-report estimates for Friday’s Cattle on Feed report indicate that feedlots with 1,000 head or greater in August will be 2.5% higher. Placements in July are estimated to be down 6.5% from a year ago, and marketings for July is predicted to be 92.6%.
“There are plenty of cattle in feedyards, as tomorrow’s USDA monthly Cattle-on-Feed report will confirm, with some states at record levels,” Fish wrote. “Tomorrow’s report will show supplies up 2% from a year ago and likely the third highest number in history. The record number of cattle on feed with 180 days or more will need to be harvested this fall in significantly more numbers than seen in the first 7 months of 2026.”
Feeder cattle
Feeder cattle futures closed lower, with the August contract down $1.55 to $335.30 and the September contract 20 cents lower to $328.92.
The CME Feeder Cattle Index was down $119 to $342.36.
Corn futures continued to post gains, with the September and December contracts up 5 cents to $4.78 and $5.02, respectively.
Kansas: Winter Livestock in Dodge City sold 604 head on Wednesday. Compared to the last auction, heifers 650 lbs. and over sold $5-9 lower. Stocker steers and heifers, 300-550 lbs., sold $10-20 higher. Feeder steers, not enough for a market test, but a weaker undertone was noted. A group of steers averaging 825 lbs. sold from $336-343, averaging $342.57.
Nebraska: Bassett Livestock in Bassett sold 1,325 head on Wednesday. Due to a lack of comparable offerings from two weeks ago, an accurate trend could not be provided for steers or heifers. Benchmark steers averaging 782 lbs. sold from $364-367.50, averaging $367.
New Mexico: Clovis Livestock in Clovis sold 1,390 head on Wednesday. Compared to the last auction, steer calves and feeder steers sold $15-25 lower. Heifer calves sold $7-20 lower, with feeder heifers 600 -700 lbs. trading lower and 700-850 lbs. selling $15-17 higher. Benchmark steers averaging 777 lbs. sold from $320-334, averaging $333.24.
Wyoming: Torrington Livestock in Torrington sold 1,350 head on Wednesday. Compared to the previous auction, feeder heifers sold $5-10 lower. No test on yearling steers this week. A light run of bawling calves, with some groups of loads selling higher than last week. A group of steers averaging 636 lbs. sold for $401. — Charles Wallace, WLJ contributing editor
