Thursday markets
Cattle futures closed mixed, with feeder cattle futures higher as traders view the USDA’s announcement of a renewed border closure to Mexican imports as a bullish signal.
Live cattle futures closed slightly lower, with the August contract down 55 cents to $219.22 and the October contract down 27 cents to $217.07.
Cash trade was light, with 1,408 head sold. Live steers sold for $232-235, and dressed steers sold for $372.
On the formula side, 28,900 head averaging 918 lbs. sold for an average of $360.18
“A few bids are on the table at mostly $223 in the South, but a regional packer is currently bidding up to $227,” ShayLe Stewart, DTN livestock analyst wrote in her midday comments. “But with asking prices firm in the South at $228 to $230, still no cattle have traded yet. And the North remains incredibly quiet with no bids or asking prices having been posted just yet.”
Today’s slaughter is estimated to be 115,000 head, 3,000 head above a week earlier.
Actual slaughter for the week ending June 28 was 561,022 head. The average steer dressed weight was 933 lbs., 4 lbs. below the prior week.
Boxed beef prices were lower on 69 loads, with the Choice cutout down $1.79 to $384.66 and the Select cutout down $2.41 to $370.86.
USDA’s Weekly Export report showed beef net sales were 11,600 metric tons (mt) for 2025, up 1% from the previous week but down 12% from the prior four-week average. The three largest buyers were Japan (4,000 mt), South Korea (3,800 mt) and Mexico (1,100 mt).
Feeder cattle
Feeder cattle futures closed higher, with the August contract up 80 cents to $321.27 and the September contract up $1.20 to $321.22.
“With the USDA’s updated announcement that the U.S. border is again closed to Mexican imports, the feeder cattle complex has again gained another leg up and traders are continuing to support its higher trend,” Stewart wrote. “We know that domestic supplies are tight, and buyer demand remains red hot, which is why traders remain confident in continuing to push the contracts higher.”
The CME Feeder Cattle Index was $5.36 to $316.76.
Corn futures were mixed, with the July contract down 5 cents to $4.07 and the September contract was unchanged at $3.99.
Nebraska: Bassett Livestock in Bassett sold 9,630 head on Wednesday during their annual customer appreciation BBQ sale. There were no comparable offerings for an accurate comparison, so a trend could not be given for steers or heifers. Benchmark steers averaging 767 lbs. sold for $350-357, averaging $352.83.
Oklahoma: OKC West in El Reno sold 4,514 head on Wednesday. Compared to the last auction, feeder steers sold $3-8 higher except 850-900 lbs. were steady. Feeder heifers over 750 lbs. sold $10-15 higher, and under 750 lbs. were steady to $4 higher. Steer calves sold $10-15 higher. Heifer calves traded $5-10 higher. Benchmark steers averaging 774 lbs. sold for $326-327.50, averaging $327.13.
South Dakota: Hub City Livestock in Aberdeen sold 1,652 head on Wednesday. Compared to the last auction two weeks ago, steers 950-1,049 lbs. sold $15-20 higher. Heifers not well tested today for comparison. A group of steers averaging 684 lbs. sold for $376. — Charles Wallace, WLJ contributing editor
