Tuesday markets
Live and feeder cattle futures posted solid follow-through buying today, closing higher as traders remained encouraged by last week’s surge in cash cattle prices and a continued outpouring of fundamental support.
Live cattle futures closed higher, with the February contract up $2.15 to $240.32 and the April contract $2.10 higher to close at $241.62.
“The market is pressuring its technical barriers as this is currently the highest price point traded at since last October,” ShayLe Stewart, DTN livestock analyst, wrote in her midday comments. “As long as fundamental support continues to remain robust, traders will likely remain supportive and push the contracts higher. But it’s undeniable that traders will need to see continued fundamental support.”
Cash trade was nominal, with 80 head sold—not enough for a market trend.
On the formula side, 22,700 head averaging 956 lbs. sold for an average of $373.81.
“As market-ready cattle on feed continue to move away from the immediate cash market, packers are left in a desperate situation, and the result is record company losses for those operating fed beef facilities,” wrote Cassie Fish, market analyst, for The Beef. “In any other time in history, this many cattle with record days on feed coupled with historically small slaughter would have been alarming. But not in 2026.”
Today’s slaughter is estimated to be 115,000 head, 3,000 head lower than the prior week.
Boxed beef prices were higher on 118 loads, with the Choice cutout $2.50 higher to $370.71 and the Select cutout up $2.32 to $367.23.
Feeder cattle
Feeder cattle futures also closed higher, with the March contract up $1.57 to $367.92 and the April contract $1.70 higher to $365.87.
“With encouragement from last week’s bullish Cattle Inventory report, the stronger trade in the fed cash cattle market last week, and the live cattle contracts now trading higher, the feeder cattle complex is trading higher thanks to these support factors,” Stewart wrote.
The CME Feeder Cattle Index was 60 cents higher to $375.01.
Corn futures were higher, with the March and May contracts up 2 cents to $4.28 and $4.35, respectively.
Iowa: Russell Livestock in Russel sold 4,048 head on Monday. Compared to the previous auction, steers sold mostly $8-18 higher. Heifers sold $7-17 higher. Benchmark steers averaging 717 lbs. sold between $385-423, averaging $404.38.
New Mexico: Roswell Livestock in Roswell sold 1,203 head on Tuesday. Compared to the previous auction, steer calves 400-450 lbs. and 500-550 lbs. sold $10-20 higher, while 450-500 lbs. and 550-600 lbs. were $5 lower. Feeder steer yearlings 600-750 lbs. sold higher. Heifer calves sold $5-15 higher, except 550-600 lbs. were $9 lower, with feeder heifers selling higher. Benchmark steers averaging 712 lbs. sold between $382-392.50, averaging $390.09.
South Dakota: Sioux Falls Regional in Worthing sold 5,021 head on Monday. Compared to the previous auction, feeder steers sold steady to $5 higher, except 650-750 lbs. were $7-10 higher. Feeder heifers sold $10-20 higher, except 950-1,000 lbs. were $8-15 lower. Benchmark steers averaging 722 lbs. sold between $387.50-419, averaging $406.73. — Charles Wallace, WLJ contributing editor
