Wednesday markets
“The livestock complex rounded out the day mixed, as traders weren’t confident about which way the livestock markets should trade today,” wrote ShayLe Stewart, DTN livestock analyst, in her closing comments.
Live cattle futures were higher, up 35 cents to $242.17 on the October contract and up 27 cents to $246.77 on the December contract.
“Today’s higher close yet again scores a new contract high for the spot December contract, and traders are hopeful that if fundamental support rains down on the market later in the week (in the form of a stronger fed cash cattle trade), then there’s still the chance the futures market could trade even higher,” Stewart said.
There was no cash trade reported today. Total cash trade for the week so far has been less than 2,000 head.
Slaughter for the day is estimated at 122,000 head, compared to 118,000 head a week earlier. Total slaughter for the week so far is about 348,000 head, compared to 335,000 head last week.
Boxed beef prices were mixed on 156 loads. The Choice cutout gained $2.06 to close at $366.48, and the Select cutout lost $1.39 to close at $349.16.
Feeder cattle
“The feeder cattle complex also ended the day mixed, but opposite from that of the live cattle complex, the nearby feeder cattle contracts closed a tick lower, while the deferred months closed mostly higher,” Stewart said.
Feeder cattle futures were lower, down 45 cents on the October contract to $379.72 and down 65 cents on the November contract to $380.67.
“More than anything, traders continue to recognize the fact that although supplies are tight now, they’re only going to grow thinner in 2026, which is likely why traders elected to keep those deferred contracts higher,” Stewart said.
The CME Feeder Cattle Index gained $4.02 to close at $373.02.
Colorado: Winter Livestock in La Junta sold 2,036 head on Tuesday. Compared to a week earlier, feeder steers under 400 lbs. sold $4-7 lower. Feeder steers over 400 lbs. sold sharply higher. Feeder heifers sold sharply higher across all weight classes. Benchmark steers averaging 706 lbs. sold from $377-392, averaging $387.01. — Anna Miller Fortozo, WLJ managing editor
