Thursday markets
“After eight days of consolidating near its recent lows, CME cattle futures have taken off and are staging an impressive short-term rally today,” wrote Cassie Fish, market analyst, in The Beef. “Given the fundamentals, it’s hard to see this rally is anything other than a correction after an extended downtrend. Cattle futures are higher on the week heading into Friday for the first time in what feels like ages.”
Live cattle futures closed higher, with the October contract up $4.12 to $214.30 and the December contract $4.10 higher to $216.12.
Cash trade was light, with 1,753 head sold. Live steers sold for $218, and dressed steers sold between $340-345. On the formula side, 22,900 head averaging 940 lbs. sold for an average of $356.24.
“Yesterday the South surprisingly traded at $219/cwt, as much as $3/cwt lower than last week’s top,” Fish wrote. “For the week, the national fed cattle trade volume is 36k head as of this morning, and yesterday’s average was $218.05 live and $344.77 dressed. Last week’s 5-area average steer price was $219.25, which was the lowest since November 2025.”
Today’s slaughter is estimated to be 105,000 head, the same as last week.
Actual slaughter for the week ending Aug. 22 was 527,019 head. The average steer dressed weight was 967 lbs., up 1 lb. from the prior week.
Boxed beef prices were lower on 117 loads, with the Choice cutout down $1.88 to $376.90 and the Select cutout $2.86 lower to $350.72.
Feeder cattle
Feeder cattle futures also closed higher, with the September contract up $6.87 to $325.85 and the October contract $6.72 higher to $321.10.
The CME Feeder Cattle Index was 4 cents higher to $329.18.
Corn futures closed lower, with the September contract down 3 cents to $5.15 and the December contract 2 cents lower to $5.40.
Kansas: Winter Livestock in Dodge City sold 1,486 head on Wednesday. Compared to the last auction, steers over 600 lbs. and heifers over 650 lbs. sold steady, with a strong undertone. Steers under 600 lbs. and heifers under 650 lbs. sold sharply lower. Benchmark steers averaging 770 lbs. sold for $337-350, averaging $344.34.
Nebraska: Bassett Livestock in Bassett sold 1,780 head on Wednesday. A direct comparison could not be made because there was no recent auction. Benchmark steers averaging 769 lbs. sold for $355.
Oklahoma: OKC West in El Reno sold 3,866 head on Wednesday. Compared to the last auction, feeder steers over 750 lbs. sold $5-10 low—no number 1 cattle under 750 lbs. sold on Wednesday. Feeder heifers sold steady to $5 lower. Benchmark steers averaging 776 lbs. sold for $320-334, averaging $327.91.
Wyoming: Torrington Livestock in Torrington sold 1,819 head on Wednesday. Compared to the previous auction, feeder steers and heifers traded mostly steady, with instances of $2 higher on a few load lots. Steer and heifer calves sold mostly steady. Benchmark steers averaging 776 lbs. sold for $350-359, averaging $353.75. — Charles Wallace, WLJ contributing editor
