Tuesday markets
Cattle futures closed mixed, with traders unwilling to push prices beyond the 40-day and 100-day moving averages.
“Futures have retraced to the 40-day and 100-day moving averages and pretty much halted,” wrote Cassie Fish, market analyst, in The Beef. “Gaps lie overhead and traders apparently are tired or the drama and uncertainty surrounding the cattle and beef industry.”
Live cattle futures were mixed, with the December contract 50 cents lower to $226.82 and the February contract 27 cents higher to close at $226.95.
Cash trade was nonexistent, with only 36 head sold.
On the formula side, 30,800 head averaging 939 lbs. sold for an average of $346.06.
The national weekly direct beef type price distribution for the week of Dec. 1-8 was the following on a live basis:
• Negotiated purchases: $221.49.
• Formula net purchases: $223.94.
• Forward contract net purchases: $206.87.
• Negotiated grid net purchases: $232.58.
On a dressed basis:
• Negotiated purchases: $342.45.
• Formula net purchases: $348.73
• Forward contract net purchases: $331.61.
• Negotiated grid net purchases: $359.45.
Today’s slaughter is estimated to be 123,000 head, 1,000 head above a week earlier.
Boxed beef prices were mixed on 140 loads, with the Choice cutout 14 cents higher to $361.04 and the Select cutout 57 cents lower to $348.03.
ShayLe Stewart, DTN livestock analyst, wrote that the latest World Agricultural Supply and Demand Estimates (WASDE) report delivered mixed news, with 2025 beef production now projected at 25,950 million pounds—up 194 million lbs. from last month—and 2026 production estimated at 25,725 million lbs., an increase of 335 million lbs. Steer price forecasts fell sharply from the previous report, reflecting current market weakness and reduced 2026 shackle space. The report also lowered 2025 beef imports by 20 million lbs. and exports by 45 million lbs., while raising 2026 imports by 500 million lbs. and reducing exports by 40 million lbs.
Feeder cattle
Feeder castle futures fell slightly, with the January contract down 15 cents to $335.50 and the March contract 27 cents lower to close at $330.15.
The CME Feeder Cattle Index was 67 lower to $343.06.
Corn futures closed higher, with the December and March contracts up 4 cents to $4.40 and $4.48, respectively.
Iowa: Russell Livestock in Russell sold 2,217 head on Monday. Compared to the previous auction two weeks ago, steers sold mostly $12-34 higher, while 5-weight cattle were sharply higher. Heifers 600 lbs. and heavier sold $4-10 higher, while lighter heifers were sharply higher. Benchmark steers averaging 705 lbs. sold for $353-382.50 and averaged $375.50.
New Mexico: Roswell Livestock in Roswell sold 782 head on Tuesday. There were not enough comparable sales for an accurate trend, but a stronger market was noted. Benchmark steers averaging 763 lbs. sold for $285-300, and averaged $293.23. — Charles Wallace, WLJ contributing editor
