Wednesday markets
The cattle complex continues to show resistance, with live cattle contracts reaching highs.
“Although limited additional new direction seems to be uniformly seen through the complex, the focus on continued firm beef values is keeping traders active in summer live cattle contracts,” ShayLe Stewart, DTN livestock analyst, wrote in her midday comments. “Feeder cattle futures remain very lightly traded with nearby contracts seeing limited interest and only moderate price shifts. Although some additional price support is seen in late 2025 feeder cattle contracts, limited market volume may keep this shift subdued in the near future.
Live cattle futures were higher, with the April contract up $1.25 to $210.37 and the June contract up $1.97 to $207.40.
Cash trade was light, with only 471 head sold.
On the formula side, 23,00 head averaging 899 lbs. sold for an average of $337.31.
“There has been less than 1k negotiated fed cattle trade this week at basically steady money as most wait and see where global trade issues land,” Cassie Fish, market analyst, wrote in The Beef. “No doubt cattle feeders are encouraged by the boxed beef and futures rallies and expect higher cash prices this week.
Today’s slaughter is estimated to be 123,000 head, 1,000 below a week earlier.
Boxed beef prices were lower on 115 loads, with the Choice cutout down $2.32 to $339.90 and the Select cutout down $3.24 to $318.83.
Feeder cattle
Feeder cattle futures closed slightly higher, with the April contract up 60 cents to $288.87 and the May contract up 77 cents to $287.92.
“The potential for tighter supplies through the end of the year and continued long-term strength in beef values well past the current run higher is helping to sustain longer-term support through the feeder cattle complex,” Stewart wrote. “Given the recent support in the market, nearby and deferred contracts are holding well above both 40-day and 100-day moving averages as contracts continue to reach for new contract highs.”
Corn futures were lower, with the May contract down 4 cents to $4.57 and the July contract down 3 cents to $4.65.
Colorado: Winter Livestock in La Junta sold 2,857 head on Tuesday. Compared to the last auction, feeder steers sold $5-7 higher, with instances of sharply higher across all weight classes. Feeder heifers sold $5-9 higher, with instances of sharply higher across all weight classes. Benchmark steers averaging 729 lbs. sold for $283-294, averaging $289.80.
Montana: Miles City Livestock in Miles City sold 609 head on Tuesday. There were not enough sales for an accurate trend, but steady to firm undertones were noted. A group of steers averaging 742 lbs. sold for $301.50-308, averaging $301.94. — Charles Wallace, WLJ contributing editor
