Thursday markets
Cattle futures closed lower due to a lack of technical support.
Live cattle futures closed lower, with the December contract down $1.87 to $228.42 and the February contract $1.15 lower to close at $228.40.
“The live cattle complex is again trading lower, as though some light cash cattle trade has been reported at higher prices again this week, traders still don’t believe they possess enough well-rounded support to successfully conquer the market’s 100-day moving average,” ShayLe Stewart, DTN livestock analyst, wrote in her midday comments. “This leaves the complex only one way to go, which is lower.”
Cash trade was active, with 18,587 head sold. Live steers sold for $228, and dressed steers sold between $355-363.
On the formula side, 25,200 head averaging 953 lbs. sold for an average of $361.71.
“Even though packers bought the largest weekly trade volume of 2024 and 2025 last week at just over 103,000 head, fed cash cattle prices are trending a tick higher again this morning as packers are still in need of more cattle,” Stewart wrote.
Today’s slaughter is estimated to be 123,000 head, the same as a week earlier.
Actual slaughter for the week ending Dec. 6 was 602,929 head. The average steer dressed weight was 988 lbs., up 5 lbs. from the prior week.
Boxed beef prices were mixed on 89 loads, with the Choice cutout $1.19 higher to $357.28 and the Select cutout $2.46 lower to $343.97.
The pre-report estimates for Friday’s Cattle on Feed report show that feedlots with 1,000 head or greater will be 98.3% for cattle on feed in December. Placements in November are estimated to be 92.4%, and marketings for November are predicted at 88.4%.
Feeder cattle
Feeder cattle futures followed live cattle futures, closing lower. The January contract was down $125 to $340.27, and the March contract lost $1.72 to close at $334.60.
The CME Feeder Cattle Index was 94 cents higher to $349.79.
Corn futures climbed higher, with the March and May contracts gaining 4 cents to $4.44 and $4.52, respectively.
Kansas: Winter Livestock in Dodge City sold 2,488 head on Wednesday. Compared to the last auction, steer and heifer feeders sold steady to $20 higher. Steer calves sold unevenly, while heifer calves sold steady to $16 higher. Benchmark steers averaging 777 lbs. sold for $337-360 and averaged $353.26.
Nebraska: Huss Livestock in Kearney sold 5,192 head on Wednesday. Compared to the previous auction, steers under 600 lbs. sold steady to $10 higher and steers over 600 lbs. sold unevenly steady. Heifers under 600 lbs. sold $25 higher and heifers over 600 lbs. sold steady to $10 higher. Benchmark steers averaging 781 lbs. sold for $361-388, averaging $376.13.
Oklahoma: OKC West in El Reno sold 8,162 head on Wednesday. Compared to the last auction, feeder steers and heifers were steady to $6 higher. Steer and heifer calves over 500 lbs. sold steady to $5 higher, and under 500 lbs. were unevenly steady. Benchmark steers averaging 778 lbs. sold for $343-352, averaging $348.05. — Charles Wallace, WLJ contributing editor
