Thursday markets
Cattle futures fell for an eighth straight trading day as the selloff deepened, with cash trade in the South down $7.
“It’s the eighth trading day in a row of lower futures and the market is in the midst of an epic washout,” wrote Cassie Fish, market analyst, in The Beef. “Live cattle futures are over 400 points lower and feeder cattle futures over 800 points lower. Most active December LC has declined $19.70 since October 26—just Monday of last week—to the lowest level since September 3, 2026.”
Live cattle futures closed over $3 lower, with the December contract down $3.60 to $214.40 and the February contract $3.20 lower to $217.62.
Cash trade was moderate, with 12,719 head sold. Live steers sold for $208-217, and dressed steers sold between $335-340. On the formula side, 21,900 head averaging 957 lbs. sold for an average of $359.32.
“The South traded at $218, $7/cwt lower than a week ago and $12 lower than two weeks ago,” wrote Fish. “The North is rumored to have let go of more cattle as low as $214 today after trading a bunch this week, $215-217. There are bids in the north as low as $210. Rarely does the cattle market implode as it has this week, with no headline news whatsoever.”
Today’s slaughter is estimated to be 110,000 head, 1,000 head above last week.
Actual slaughter for the week ending Oct. 24 was 548,337 head. The average steer dressed weight was 991 lbs., down 3 lbs. from the prior week.
Boxed beef prices were lower on 97 loads, with the Choice cutout down 94 cents to $361.56 and the Select cutout $4.33 lower to $352.32.
Feeder cattle
Feeder cattle futures closed dramatically lower, with the November contract down $6.97 to $324.92 and the January contract $5.40 lower to $320.52.
The CME Feeder Cattle Index was $2.20 lower to $346.58.
Corn futures closed lower, with the December contract down 4 cents to $4.40 and the March contract down 3 cents to $4.54.
Colorado: La Junta Livestock in La Junta sold 2,383 head on Wednesday. Compared to the previous auction, feeder steers sold unevenly steady across all weight classes. Feeder heifers under 450 lbs. sold mostly $3-5 lower, with instances of sharply lower prices. Feeder heifers over 450 lbs. sold unevenly steady. Benchmark steers averaging 718 lbs. sold for $322.50-336, averaging $326.51.
Kansas: Winter Livestock in Dodge City sold 2,736 head on Wednesday. Compared to the last auction, Steers over 700 lbs. sold $5-20 lower. Heifers over 700 lbs. sold $5-10 lower. Steers and heifers under 700 lbs. sold $5 lower to $10 higher. Benchmark steers averaging 788 lbs. sold for $322-340, averaging $338.74.
Nebraska: Bassett Livestock in Bassett sold 1,590 head on Wednesday. Compared to the last auction, steers 500-550 lbs. traded sharply lower, with no comparable heifer offerings. Benchmark steers averaging 709 lbs. sold for $377.
Oklahoma: OKC West in El Reno sold 5,898 head on Wednesday. Compared to the last auction, feeder steers sold $10-20 lower, with some instances of $30 lower, but quality and days weaned were factors. Feeder heifers were not well tested, but a lower undertone was noted. Steer and heifer calves sold $5-15 lower. Steers weighing 450-550 lbs. were $20 higher. Benchmark steers averaging 724 lbs. sold from $325-350, averaging $336.07. — Charles Wallace, WLJ contributing editor
