Thursday markets
It was a topsy-turvy day for cattle futures as they closed on both sides of steady following yesterday’s rally.
“CME cattle futures have traded both sides of steady numerous times today as the market takes a rest day following yesterday’s strong technical performance,” wrote Cassie Fish, market analyst, in The Beef.
Live cattle futures closed on both sides of steady, with the August contract up 12 cents to $238.65 and the October contract lost 12 cents to $234.72.
Cash trade remained active, with 16,235 head sold. Live steers sold for $245-246, and dressed steers sold between $380-385.
Today’s slaughter is estimated to be 116,000 head, 3,000 head above the prior week.
Actual slaughter for the week ending Aug. 9 was 536,811 head. The average steer dressed weight was 939 lbs., 2 lbs. below a week earlier.
“With the cash trade for the week slowing, attention is now on the boxed beef values, which have advanced sharply this week,” Fish wrote. “Choice boxes are over $18/cwt higher than a week ago at record high levels, with the exception of 2020. Select has rallied nearly as much. There is growing anticipation that boxed beef prices will experience a seasonal setback next week, with an expected bottom post-Labor Day.”
Boxed beef prices were higher on 74 loads, with the Choice cutout increasing $2.01 to $407.86 and the Select cutout rising 44 cents to $383.60.
USDA’s Export Sales report for the week ending Aug. 14 showed beef net sales of 10,100 metric tons (mt) for 2025 were up noticeably from the previous week, but down 11% from the prior four-week average. The three largest buyers were Japan (2,500 mt), Hong Kong (2,400 mt) and South Korea (1,600 mt).
Feeder cattle
Feeder cattle futures closed mixed, with the August contract gaining 60 cents to $356.37 and the September contract losing 7 cents to $358.02.
The CME Feeder Cattle Index gained 60 cents to $345.58.
Corn futures closed higher, with the September and December contracts gaining 7 cents to $3.87 and $4.11, respectively.
Kansas: Winter Livestock in Dodge City sold 887 head on Wednesday. Compared to the last auction, steers and heifers under 650 lbs. sold $10 lower, while reputation calves were $10 higher. Steers and heifers over 600 lbs. were not well tested, but a higher undertone was noted. Benchmark steers averaging 732 lbs. sold for $378-391, averaging $390.26.
Nebraska: Bassett Livestock in Bassett sold 2,220 head on Wednesday. A market trend could not be established due to a lack of a recent auction. Benchmark steers averaging 717 lbs. sold for $394-412.50, averaging $406.07.
Oklahoma: OKC West in El Reno sold 8,319 head on Wednesday. Compared to the last auction, feeder steers and heifers sold $5-10 higher, with spots up to $15 higher. Benchmark steers averaging 732 lbs. sold for $370-392, averaging $381.65.
Wyoming: Torrington Livestock in Torrington sold 1,061head on Wednesday. An accurate trend could not be given due to the lack of recent sales. A group of steers averaging 615 lbs. sold for $402. — Charles Wallace, WLJ contributing editor
