Thursday markets
The livestock complex closed lower, reaching new lows for the week.
“CME live cattle futures have fallen to Monday’s lows, the low for the week, month and year,” Cassie Fish, market analyst, wrote for The Beef. “Feeder cattle have made a new low for the week, but still a couple of hundred points from checking the low for the year, made last week. Perhaps the big sell-off in equities today is inspiring selling in cattle futures, or the enormous break in lean hog futures the last two days.”
Live cattle futures closed lower, with the February contract down 20 cents to $197.62, the April contract down 97 cents to $193.80 and the June contract down 95 cents to $189.97.
Cash trade was moderate, with 9,021 head sold. Live steers sold for $199-200, and dressed steers sold for $315.
On the formula side, 35,400 head averaging 922 lbs. sold for an average of $326.76.
Today’s slaughter is estimated to be 117,000 head, the same as a week earlier.
Actual slaughter for the week ending Feb. 8 was 582,606 head. The average steer dressed weight was 951 lbs., 1 lb. below a week earlier.
USDA’s National Agricultural Statistics Service released the Livestock Slaughter report for January 2025, showing beef production at 2.37 billion pounds, 4% above the previous
year. Cattle slaughter totaled 2.72 million head, down 1% from January 2024. The average live weight was up 50 lbs. from the previous year, at 1,439 lbs.
Boxed beef prices were lower on 101 loads, with the Choice cutout down $1.26 to $312.63 and the Select cutout down 58 cents to $303.18.
Feeder cattle
Feeder cattle closed triple digits lower, with the March contract down $2.20 to $266.82 and the April contract down $2.22 to $266.37.
The CME Feeder Cattle Index was up 52 cents to $278.51.
Corn futures closed modestly higher, with the March and May contracts closing up a fraction of a cent to $4.98 and $5.12, respectively.
New Mexico: Clovis Livestock in Clovis sold 1,079 head on Wednesday. Compared to the last auction, steer calves 400-500 lbs. sold $8-14 higher, 500-550 lbs. were $9 lower and 550-600 lbs. sold $7 higher. Steer yearlings 600-650 lbs. sold $10 lower and 750-800 lbs. were $4 higher. Heifer calves 400-600 lbs. sold steady to $4 higher and feeder heifers 600-700 lbs. sold $7-11 lower while 700-750 lbs. were steady. A group of steers averaging 763 lbs. sold for $254.75-255, averaging $254.79.
South Dakota: Hub City Livestock in Aberdeen sold 2,928 head on Wednesday. Compared to the last auction, steers 550-599 lbs. sold $6-8 higher, 650-699 lbs. and 750-799 lbs. traded mostly steady and 700-749 lbs. were $5-7 lower. Heifers 650-699 lbs. and 750-799 lbs. sold mostly steady. Benchmark steers averaging 776 lbs. sold for $279-300, averaging $294.19. — Charles Wallace, WLJ contributing editor
