Cattle futures continued lower Thursday, pressured by lower negotiated cash fed cattle prices and the sharp Wall Street selloff.
Toward the close, Live Cattle futures were an average of $2.84 lower. Feeder Cattle futures were an average of $4.36 lower.
Negotiated cash fed cattle trade was light on moderate demand in the South Central region through Thursday afternoon, according to the Agricultural Marketing Service. Trade in the north ranged from light on light demand in Nebraska to light to moderate on moderate to good demand in the Western Corn Belt.
Based on the last established trade, relative to last week, FOB live prices are $7 lower in the South Central region at $218/cwt., mostly $10 lower in Nebraska at mainly $214 and $9.50-$10 lower in the western Corn Belt at $210-$214.50. Dressed delivered prices are $14-$17 lower in Nebraska at $335-$338 and $8-$25 lower in the western Corn Belt at mostly $340.
Choice boxed beef cutout value was 94¢ lower Thursday afternoon at $361.56/cwt. Select was $4.33 lower at $352.32.
Grain futures were lower Thursday.
Through late afternoon, and through the front four contracts, Corn futures were 2¢ to 3¢ lower. Kansas City HRW Wheat futures were fractionally higher to 2¢ higher. Soybean futures were 12¢ to 13¢ lower.
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Major U.S. financial indices slid sharply lower Thursday, led by tech stocks, especially those related to AI, as investors feared a slowdown in data center construction, based on results of the mid-term election.
The Dow Jones Industrial Average closed 1,833 points lower. The S&P 500 closed 334 points lower. The NASDAQ was down 1,421 points.
Through mid-afternoon, West Texas Intermediate crude oil futures (CME) were 41¢ to $2.63 higher through the front six contracts.
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U.S. beef exports continue to gain more traction year over year, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). September volume was 1% higher at 81,310 metric tons (mt) and value increased 8% to $712.4 million.
Robust performance in Taiwan and year-over-year increases in South Korea led the stronger performance. September export value also increased to Japan, the Middle East and South America despite lower volumes. However, shipments were below last year in volume and value to Mexico, Canada and Central America. Exports to China were above the minimal volume shipped a year ago but remained far below the levels seen in previous years when U.S. beef had relatively strong access to the market.
Through the first three quarters of 2026, beef exports were steady with last year’s value at just over $7 billion, while volume fell 6% to 802,460 mt.
Beef export value equated to $391.43 per head of fed slaughter in September, up 16% from a year ago. The January-September average was $426.60 per head, up 8%.
“Beef exports were once again encouraging in September, as global customers continue to show a powerful and loyal appetite for U.S. beef,” says Dan Halstrom, USMEF President and CEO. “While consumers everywhere are feeling the pinch of higher household expenses, they still prioritize high-quality protein in their daily diet. The U.S. beef industry is well-positioned to meet this need, providing the consistent value that consumers expect, in a wide range of markets. Economic situations in those markets also vary widely. For example, U.S. beef is certainly benefiting from Taiwan’s strong economic performance.”
For broader perspective, U.S. pork exports were below year-ago levels for the fifth consecutive month, due in part to a sharp decline in variety meat shipments. September pork exports totaled 216,353 mt, down 7.5% from a year ago, while value fell 13.5% to $591.3 million.