(Editor’s note: This report contains market information available as of Tuesday afternoon due to an earlier New Year’s Day press schedule.)
Cattle futures headed into the last week of 2025 modestly higher, supported by optimism for the year ahead.
Live cattle futures traded higher over the week. The December contract gained about $3 to close at $231.17, and the February contract gained about half a dollar to close at $230.47.
“Following Monday’s weaker close, the live cattle complex is higher as traders remain optimistic about the year to come,” wrote ShayLe Stewart, DTN livestock analyst, in her Tuesday midday comments.” As we know now more than ever, managing risk remains a critical part of the cattle business and volatility is always looming; but there’s still much to be excited about in the cattle sector as the calendar looks ahead to 2026.”
Cash trade through Tuesday afternoon totaled less than 200 head, not enough for a market trend.
Cash trade for the week ending Dec. 28 totaled 48,538 head. Live steers averaged $229.30, and dressed steers averaged $356.69.
Slaughter through Tuesday totaled 240,000 head, compared to 244,000 head a week earlier. Estimated total slaughter for a week earlier is 429,000 head, lighter in volume due to the Christmas holiday. Actual slaughter for the week ending Dec. 13 totaled 595,972 head. Actual slaughter for the week ending Dec. 20 was not yet available as of WLJ press time.
“Collapsing wholesale beef prices coupled with higher cattle costs to packers last week mean packer margins this week are likely near the worst of 2025, if not the worst,” wrote Cassie Fish, market analyst, in The Beef on Tuesday.
Boxed beef prices through Tuesday closed lower. The Choice cutout lost about $7 to close at $348.20, and the Select cutout lost about $6 to close at $343.16.
“Seasonally, the first quarter of each year is the narrowest Choice/Select spread of the year,” the Cattle Report wrote on Monday. “Holiday shoppers found many more prime beef cuts on the meat counter this year.”
Feeder cattle
Feeder cattle futures closed higher over the week, up about $5 apiece on the January and March contracts, closing at $349.55 and $344.57, respectively.
“The market has plenty of upward potential as the contracts have already broken through the resistance at the 100-day moving average,” Stewart said.
The CME Feeder Cattle Index lost about $5 to close at $348.04.
Corn futures traded modestly lower. The March contract lost 7 cents to close at $4.40, and the May contract lost 7 cents to close at $4.48.
Most sale barns were closed due to the holidays.
Missouri: Joplin Regional Stockyards in Carthage sold 11,000 head on Monday. Compared to the last sale held two weeks earlier, feeder steers sold steady to $18 higher. Feeder heifers sold steady to $7 higher. Benchmark steers averaging 781 lbs. sold from $343-362, averaging $352.81. — Anna Miller Fortozo, WLJ managing editor
