Tuesday markets
“CME cattle futures have not taken out last week’s lows but are trading very defensively,” wrote Cassie Fish, market analyst, in The Beef. “Good news is elusive and anxiety is high. The trend is decidedly lower.”
Live cattle futures closed lower, with the October contract down 60 cents to $212.07 and the December contract $1.20 lower to $213.37.
“With October LC stepping into the lead role, this is the lowest a spot live cattle futures contract has traded since November 2025,” Fish continued. “The U.S. cattle industry has had multiple blows since last November in the form of fed cattle plant closures, shift cancellations, strikes, lockouts and political policies. Through it all, the market managed to hold it together until this summer.”
Cash trade was moderate, with 2,905 head sold. Live steers sold for $218, and dressed steers sold for $345. On the formula side, 22,500 head averaging 967 lbs. sold for an average of $361.85.
The national weekly direct beef type price distribution for the week of Aug 24-31 was the following on a live basis:
• Negotiated purchases: $220.02.
• Formula net purchases: $230.66.
• Forward contract net purchases: $241.96.
• Negotiated grid net purchases: $238.13.
On a dressed basis:
• Negotiated purchases: $345.40.
• Formula net purchases: $363.66.
• Forward contract net purchases: $378.18.
• Negotiated grid net purchases: $368.72.
Today’s slaughter is estimated to be 106,000 head, 1,000 head below the previous week.
Boxed beef prices were higher on 110 loads, with the Choice cutout up $3.93 to $379.75 and the Select cutout $1.96 higher to $360.45.
Feeder cattle
Feeder cattle futures also closed lower, with the September contract down $1.10 to $320.35 and the October contract $1.62 lower to $315.40.
The CME Feeder Cattle Index was $3.49 lower to $329.31.
Corn futures closed higher, with the September contract up 6 cents to $5.21 and the December contract 8 cents higher to $5.46.
Iowa: Russell Livestock in Russell sold 1,883 head on Monday. An accurate trend could not be established due to a lack of a recent sale, but demand was very good. Benchmark steers averaging 724 lbs. sold from $343-375, averaging $361.18.
South Dakota: Sioux Falls Regional in Worthing sold 1,251 head on Monday. Compared to the last auction, there were few comparable sales of yearling feeder steers. Heifers sold mostly $5 lower. Benchmark steers averaging 793 lbs. sold for $322.
Texas: Giddings Livestock in Giddings sold 946 head on Monday. Compared to the previous auction, feeder steers under 600 lbs. sold $4-15 lower, while the heavier steers over 600 lbs. were $2-6 higher. Feeder heifers under 500 lbs. sold $8-15 lower, while heifers over 500 lbs. were $2-5 higher. Benchmark steers averaging 709 lbs. sold for $305-325, averaging $314.79. — Charles Wallace, WLJ contributing editor
