Tuesday markets
Cattle futures closed mostly lower on mild profit-taking by traders.
Live cattle futures closed slightly lower, with the August contract down 52 cents to $232.75 and the October contract 57 cents lower to $226.32.
Cash trade was minimal, with only 57 head sold—not enough for a market trend. On the formula side, 23,900 head averaging 940 lbs. sold for an average of $372.56.
The national weekly direct beef type price distribution for the week of Aug 3-10 was the following on a live basis:
• Negotiated purchases: $235.79.
• Formula net purchases: $235.19.
• Forward contract net purchases: $247.34.
• Negotiated grid net purchases: $249.75.
On a dressed basis:
• Negotiated purchases: $370.88.
• Formula net purchases: $370.06.
• Forward contract net purchases: $379.51.
• Negotiated grid net purchases: $383.83.
Today’s slaughter is estimated to be 108,000 head, 24,000 head below the previous week.
“Even though fed cattle supplies are larger the remainder of the year than the first half of 2026, they remain below a year ago, which ought to be price supportive,” wrote Cassie Fish, market analyst, in The Beef. “At the same time, packers must manage their businesses and attempt to limit their losses. Boxed beef prices are holding together, but they too have backed off of their highs.”
Boxed beef prices were slightly lower on 124 loads, with the Choice cutout down 11 cents to $371.31 and the Select cutout down $1.04 to $349.80.
“The entire marketplace, futures, cash fed cattle prices and boxed beef prices, have found support but the rally is subdued and overhead resistance looms for now,” Fish said. “A sideways trend is currently in place and market is demonstrating some equilibrium. Traditionally August and September can exhibit more ‘going nowhere’ than much else. Perhaps the volatility and drama of the last year make it challenging to accept this type of action as a possibility—even if historically it’s pretty normal.”
Feeder cattle
Feeder cattle futures closed mixed, with the August contract down 57 cents to $350.17 and the September contract up 67 cents to $345.25.
The CME Feeder Cattle Index was down $1.38 to $355.98.
Corn futures closed lower, with the September and December contracts down a penny to $4.36 and $4.60, respectively.
New Mexico: Roswell Livestock in Roswell sold 287 head on Monday. Compared to the last auction, steer and heifer calves sold lower, except 500-550 lbs. steers traded $2 higher and 500-550 lbs. heifers were steady. Feeder steers and heifers had no comparable sales. A group of benchmark steers averaging 731 lbs. sold for $342.
Texas: Giddings Livestock in Giddings sold 1,063 head on Monday. Compared to the last auction, feeder steers under 500 lbs. sold $2-5 higher and over 500 lbs. sold $1-3 lower. Feeder heifers under 400 lbs. sold $2-6 higher and over 400 lbs. were $2-5 lower. Benchmark steers averaging 729 lbs. sold from $330-345, averaging $332.49. — Charles Wallace, WLJ contributing editor
