Wednesday markets
The livestock complex closed mixed Wednesday, with live cattle higher, feeders lower, and cash trade $9-14 higher.
Live cattle futures closed higher, with the April contract up $4.20 to $256.87 and the June contract $1.75 higher to $255.25.
Cash trade was again active, with 6,840 head sold. Live steers sold for $255-257.50, and dressed steers sold for $400.
On the formula side, 21,800 head averaging 946 lbs. sold for an average of $392.14.
“At yesterday afternoon’s close, prices were mostly being reported at $395 to $396 in Nebraska and Iowa,” ShayLe Stewart, DTN livestock analyst, wrote in her midday comments. “However, after the mandatory cutout time, price sources were reporting prices as high as $400 which is $14 higher than last week’s weighted average. But do note that a large percentage of those sales were marked for delivery for the week of 5/11/2026. Southern live cattle were reported at $250 to $252 at the cutoff time, but later sales jumped as high as $255, which is $9 higher than last week’s weighted average.”
Today’s slaughter is estimated to be 109,000 head, 2,000 head below last week.
Boxed beef prices were lower on 115 loads, with the Choice cutout down 85 cents to $388.05 and the Select cutout $2.53 lower to $386.25.
“Left in the background for now is a flat, uninspired wholesale beef market,” wrote Cassie Fish, market analyst, in The Beef. “Limited interest in the rib is holding the overall cutout back while other items, like the brisket, are having a record spring. Still production in May and June is expected to be smaller than end users are used to seeing for that time frame and they may well wake up to that fact as the calendar turns.”
Feeder cattle
Feeder cattle futures closed mixed, with the April contract 20 cents higher to $372.27 and the May contract 22 cents lower to $371.50.
The CME Feeder Cattle Index was up 28 cents to $369.62.
Corn futures continued their upward streak, with the May contract up a penny to $4.66 and the July contract up two cents to $4.77.
Texas: Lonestar Stockyards in Wildorado sold 1,080 head on Tuesday. Compared to the last auction, feeder steers and heifers sold $2-10 higher. Benchmark steers averaging 786 lbs. sold for $374.
Utah: Producers Livestock in Salina sold 640 head on Tuesday. There were not enough comparable sales of steers for an accurate market trend, except for 700-800 lbs. sold sharply higher. Feeder heifers selling unevenly steady on calves and yearlings. Benchmark steers averaging 770 lbs. sold for $349-365, averaging $361.02. — Charles Wallace, WLJ contributing editor
