Thursday markets
The livestock complex traded lower today, with cattle futures pressured by continued speculative profit-taking.
Live cattle futures closed lower, with the October contract down $1.37 to $236.95 and the December contract $1.70 lower to close at $238.55.
“Market participants are hungry for a futures market break and are getting one today, though last week’s lows are still a ways off,” Cassie Fish, market analyst, wrote in The Beef. “But it’s September, a month long known for market setbacks. The northern negotiated fed cattle trade has finally hit enough market-ready cattle to turn the market lower, albeit just a bit. Bears predict northern cash prices will continue to slide south and that the southern fed cattle price will eventually take the lead.”
Cash trade was active, with 27,030 head sold. Live steers sold for $242-245, and dressed steers sold between $380-383.
On the formula side, 28,000 head averaging 937 lbs. sold for an average of $386.41.
Today’s slaughter is estimated to be 121,000 head, 3,000 head above a week earlier.
Actual slaughter for the week ending Aug. 23 was 555,676 head. The average steer dressed weight was 952 lbs., 9 lbs. above the prior week.
“And just reported for the week ending August 23, was a 9 pound surge in steer carcass weights to 952 pounds, which is 21 pounds over a year ago and is clear reminder that by November, carcass weights will likely be record high at over 965 pounds—not that heavy carcass weights have had a bearish impact in 2025. Quite the opposite,” Fish wrote.
Boxed beef prices were mixed on 142 loads, with the Choice cutout down $1.80 to $414.21 and the Select cutout 4 cents higher to $387.77.
Feeder cattle
Feeder cattle futures also closed down triple digits, with the September contract down $2.25 to $359.82 and the October contract $2.55 lower to close at $358.95.
The CME Feeder Cattle Index was 9 cents lower to $365.43.
Corn futures closed moderately higher, with the September contract up 2 cents to $3.99 and the December contract up a penny to $4.19.
Kansas: Winter Livestock in Dodge City sold 2,050 head on Wednesday. Compared to the last auction, steers under 600 lbs. sold $11 higher, while steers over 600 lbs. sold steady, with a soft undertone noted. Heifers over 600 lbs. sold steady to $5 higher, and under 600 lbs. sold steady with soft undertone. Reputation steers and heifers under 600 lbs. were fleshy and sold $10 higher, while smaller packages of calves sold $10 lower. Benchmark steers averaging 719 lbs. sold for $380-400, averaging $388.57.
Nebraska: Bassett Livestock in Bassett sold 1,430 head on Wednesday. An accurate comparison could not be made due to a lack of comparable offerings. Benchmark steers averaging 747 lbs. sold for $384.50-408.50 and averaged $388.04.
Oklahoma: OKC West in El Reno sold 7,654 head on Wednesday. Compared to the previous auction, feeder steers sold steady to $2 higher. Feeder heifers traded $1-6 higher. Steer calves were unevenly steady. Heifer calves over 500 lbs. sold unevenly steady, and under 500 lbs. traded $3-5 higher. Benchmark steers averaging 727 lbs. sold for $378.50-391, averaging $384.11. — Charles Wallace, WLJ contributing editor
