Cattle futures continued mostly higher on Monday, led by Feeder Cattle and supported by last week’s stronger negotiated cash fed cattle prices.
Toward the close, Live Cattle futures were an average of 22¢ higher, except for an average of 15¢ lower in the front three contracts.
Feeder Cattle futures were an average of $1.43 higher.
Negotiated cash fed cattle trade was mostly inactive on light demand in the North through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $3-$5 higher in Nebraska at 225-$227/cwt. and mostly $4 higher in the western Cron Belt at mainly $224. Dressed delivered prices were mainly $5-$10 higher in Nebraska at $350-$355 at mostly $5 higher the western Corn Belt mainly $350.
The Texas Cattle Feeder Association reported its members trading fed steers $2.50 higher at $228.50 and fed heifers steady at $226.
Last week’s five-area direct weighted average FOB live fed steer price was $4.05 higher at $220.14/cwt. The five-area direct weighted average dressed delivered fed steer price was $6.86 higher at $352.52.
Choice boxed beef cutout value was 73¢ lower Monday afternoon at $371.58/cwt. Select was $6.86 higher at $359.91.
Grain and Soybean futures were lower Monday with continued bearishness and technical pressure.
Through late afternoon, and through the front four contracts, Corn futures were 4¢ to 7¢ lower. Kansas City HRW Wheat futures were 4¢ lower. Soybean futures were 5¢ to 8¢ lower.
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Major U.S. financial indices were mixed on Monday with support from tech stocks as investors appeared to buy the recent slide in AI companies.
The Dow Jones Industrial Average closed 36 points lower. The S&P 500 closed 31 points higher. The NASDAQ was up 290 points.
Through mid-afternoon, West Texas Intermediate crude oil futures (CME) were 49¢ lower to $1.79 higher through the front six contracts.
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NOAA’s latest U.S. Winter Outlook (December 2026 to February 2027), impacted by one of the strongest predicted El Niño events on record, suggests warmer-than-average temperatures across the northern U.S. Wetter-than-average conditions are likely across the southern U.S., from California to Florida, and along the Eastern Seaboard. Forecasts call for the drought improving across the majority of the country, including areas in the East, Southern Great Plains and Southwest.
More specifically…
Precipitation Outlook
- Wetter-than-average conditions are most likely across the southern tier, from the Southwest to the Southeast, and along the East Coast.
- Elevated odds for drier-than-average conditions for Hawaii, much of Alaska, the northern Mountain West, some areas in the Great Lakes and the western Pacific Islands.
- Areas in the Intermountain West, northern Plains, Ohio Valley and Puerto Rico / U.S. Virgin Islands have equal chances of below-average, near-average or above-average seasonal total precipitation amounts.
Drought Outlook
- Drought conditions are forecast to improve or end in the Southwest, Southern Great Plains, Southeast and parts of the East Coast.
- Drought conditions are favored to develop or worsen across parts of the northern Rockies, along with northeastern Oregon and eastern Washington.