Wednesday markets
Cattle futures fell sharply after President Donald Trump posted on Truth Social that ranchers should “get their prices down,” crediting his tariffs on imported cattle—particularly a 50% duty on Brazil—for their recent profitability.
In addition, the market is awaiting news from USDA Secretary Brooke Rollins on plans to revitalize the industry.
Live cattle futures lost over $4, with the October contract $4.62 lower to close at $239.05 and the December contract down $5.60 to $239.82.
Cash trade was moderate, with 3,329 head sold. Live steers sold between $239-240, and dressed steers sold for $372.
On the formula side, 16,700 head averaging 954 lbs. sold for an average of $376.88.
Today’s slaughter is estimated to be 118,000 head, 4,000 head below a week earlier.
Boxed beef prices were mixed on 153 loads, with the Choice cutout down $1.28 to $370.65 and the Select cutout $1.04 higher to $353.61.
Feeder cattle
Feeder cattle were limit down on deferred contracts, with the October contract $7.85 lower to close at $365.07 and the November contract down $9.25 to $364.22.
The CME Feeder Cattle Index lost $3.16 to $372.99.
Corn futures were higher, with the December contract up 3 cents to $4.23 and the March contract 2 cents higher to $4.35.
Colorado: Winter Livestock in La Junta sold 1,769 head on Tuesday. Compared to the previous auction, yearling steers sold mostly sharply lower. Yearling heifers sold $9 higher on a light test. Benchmark steers averaging 720 lbs. sold for $345-349, averaging $348.11.
Montana: Miles City Livestock in Miles City sold 4,198 head on Tuesday. Compared to the previous auction, yearling steers and heifers were too lightly tested to develop any market trend. Steer calves all sold steady to firm. Heifer calves under 450 lbs. sold steady to firm, and heifers over 450 lbs. sold steady to $8 lower. A group of steers averaging 768 lbs. sold for $382.50.
Texas: Lonestar Stockyards in Wildorado sold 1,012 head on Tuesday. Compared to the previous auction, feeder steers and heifers weighing between 500-600 lbs. traded mostly $3-10 higher. Lighter-weight steers, heifers and unweaned calves traded $4-10 lower. A group of unweaned steers averaging 740 lbs. sold for $348.50.
Wyoming: Winter Livestock in Riverton sold 5,046 head on Tuesday. Compared to the previous auction, yearling steers and heifers sold $5-15 lower. Feeder steers under 500 lbs. sold $11-14 higher, with instances of $25-35 higher, over 500 lbs. traded unevenly steady to $5-8 lower, with instances of $10 higher on 550-595 lbs. calves. Heifer calves 350-399 lbs. sold sharply higher, over 400 lbs. traded steady to $5-10 lower, with 550-595 lbs. showing higher overtones, and over 600 lbs. under pressure on a lighter offering. A group of steers averaging 761 lbs. sold for $368. — Charles Wallace, WLJ contributing editor
