WLI

Cattle futures mostly firmed on Friday.

Live Cattle futures closed an average of 92¢ higher, except for 25¢ lower and unchanged in the front two contracts.

Feeder Cattle futures closed an average of $1.68 higher.

Week to week on Friday, Live Cattle futures closed mixed, from an average of $1.12 lower in the front four contracts to an average of 72¢ higher. Feeder Cattle futures closed an average of $4.65 higher (see below).

Negotiated cash fed cattle trade ranged from inactive on light demand in the Texas Panhandle to light on moderate demand in the North, through Friday afternoon, according to the Agricultural Marketing Service.

For the week, FOB live prices were $3 lower in the Texas Panhandle at $237/cwt., $3-$5 lower in Kansas, at $235-$237, $3-$4 lower in Nebraska at $232-$235 and $4-$5 lower in the western Corn Belt at mostly $232. Dressed delivered prices were $5 lower in Nebraska at $365 and $3-$11 lower in the western Corn Belt at $365.

Choice boxed beef cutout value was 54¢ lower Friday afternoon at $371.43/cwt. Select was $1.01 lower at $352.44.

Grain futures closed lower Friday. Corn futures closed 1¢ to 3¢ lower. KC HRW Wheat closed 6¢ to 7¢ lower. However, Soybean futures closed 1¢ to 2¢ higher.

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Major U.S. financial indices closed higher Friday, buoyed by the August Personal Consumption Expenditures Price Index that was line with expectations. Excluding food and energy, it was 2.9% higher year over year on a seasonally adjusted basis, according to the U.S. Bureau of Economic Analysis.  

The Dow Jones Industrial Average closed 299 points higher. The S&P 500 closed 38 points higher. The NASDAQ was up 99 points.

West Texas Intermediate Crude Oil futures (CME) were 64¢ to 74¢ higher through the front six contracts.

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Weekly gains in Feeder Cattle futures were supported by last Monday’s rally, which was tied to news of New World screwworm being confirmed just 70 miles south of the U.S. border, likely quashing resumption of Mexican cattle imports to the United States for a longer period. Support also included the previous week’s monthly Cattle on Feed report with placements on the low side of expectations. Arguably, comments from USDA suggesting imminent government plans to incentivize beef cow herd expansion added lift and uncertainty. Various rumors swirled about direct payments to producers for heifer retention and the like.

U.S. Secretary of Agriculture, Brooke Rollins, clarified USDA’s position at Thursday’s Agriculture Outlook Forum in Kansas City.

“We have no current plans to offer payment to beef producers. We see how the government getting involved can completely distort markets. No plan is even under consideration to insert ourselves through payments into the beef cattle industry,” Rollins explained. “But our plan will focus on opening up more working lands, expanding our risk mitigation tools for our beef cattle industry, and hopefully inspiring our next generation of farmers who hold this great nation in their hands.” She added details of the plan will be announced in mid-October.

Cattle futures stepped lower Thursday as wholesale beef prices continue to fall and with early weekly cash fed cattle trade weaker.

Toward the close, Live cattle futures an average of $2.60 lower. Feeder Cattle futures were an average of $5.49 lower, except for 2¢ higher in spot Sep.

Negotiated cash fed cattle trade was light on moderate demand in the Texas Panhandle and light to moderate on moderate demand in Kansas through Thursday afternoon, according to the Agricultural Marketing Service. In the North, trade was moderate on moderate demand.

For the week, FOB live prices are $3 lower in the Southern Plains at $237/cwt., $3-$4 lower in Nebraska at $232-$235 and $4-$5 lower in the western Corn Belt at $232. Dressed delivered prices are $5 lower in Nebraska at $365 and $3-$11 lower in the western Corn Belt at $365.

Choice boxed beef cutout value was $5.42 lower Thursday afternoon at $371.97/cwt. Select was $2.97 lower at $353.45.

Grain and Soybean futures firmed Thursday with support including Argentina’s renewal of its agricultural export tax.

Toward the close and through Jly contracts, Corn futures were fractionally higher to 1¢ higher. Kansas City Wheat futures were 4¢ to 5¢ higher. Soybean futures were 2¢ to 3¢ higher.

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Major U.S. financial indices closed lower Thursday, once again led by tech stocks and with traders awaiting Friday’s monthly personal consumption expenditures price index for clues about how willing the Fed might be to cut interest rates further.

The Dow Jones Industrial Average closed 173 points lower. The S&P 500 closed 33 points lower. The NASDAQ was down 113 points.

Cattle futures softened Wednesday and consolidated with some likely profit taking and waiting for weekly cash fed cattle direction.

Toward the close, Live cattle futures were an average of $1.72 lower. Feeder Cattle futures were an average of $3.27 lower, except for 55¢ higher in spot Sep.

Negotiated cash fed cattle trade was inactive on light to moderate demand in all regions, through Wednesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $240/cwt. in the Southern Plains, $236-$238 in Nebraska and $236-$237 in the western Corn Belt. Dressed delivered prices were $370 in Nebraska and $368-$376 in the western Corn Belt.

Choice boxed beef cutout value was $3.41 lower Wednesday afternoon at $377.39/cwt. Select was $3.48 lower at $356.42.

Grain and Soybean futures were lower Wednesday.

Toward the close and through away Jly contracts, Corn futures were 2¢ lower. Kansas City Wheat futures were 4¢ lower. Soybean futures were 3¢ lower.

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Major U.S. financial indices closed lower Wednesday, once again led by tech stocks.

The Dow Jones Industrial Average closed 171 points lower. The S&P 500 closed 18 points lower. The NASDAQ was down 75 points.

Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were 97¢ to $1.40 higher through the front six contracts.

Cattle futures closed mainly higher Tuesday with follow-through support from the previous day’s New World screwworm news.

Toward the close, Live cattle futures were mixed from an average of 98¢ lower in the front four contracts to an average of $1.08 higher. Feeder Cattle futures were an average of $2.94 higher.

Negotiated cash fed cattle trade was inactive on light to moderate demand in all regions, through Tuesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $240/cwt. in the Southern Plains, $236-$238 in Nebraska and $236-$237 in the western Corn Belt. Dressed delivered prices were $370 in Nebraska and $368-$376 in the western Corn Belt.

Choice boxed beef cutout value was 59¢ lower Tuesday afternoon at $380.80/cwt. Select was $2.19 lower at $359.90.

Soybean futures were firm to higher.

Toward the close and through Jly contracts, Corn futures were 2¢ to 4¢ higher. Kansas City Wheat futures were 8¢ to 9¢ higher. Soybean futures were fractionally higher to 1¢ higher.

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Major U.S. financial indices closed lower Tuesday, led by tech stocks.

The Dow Jones Industrial Average closed 88 points lower. The S&P 500 closed 36 points lower. The NASDAQ was down 215 points.

Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $1.05 to $1.37 higher through the front six contracts.

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Closure of the U.S. border to cattle imports from Mexico continues to drive declines in Southern Plains feedlot numbers, while numbers increase in the North.

Reflecting on the latest monthly Cattle on Feed report, David Anderson, Extension livestock economist at Texas A&M University notes, Sept. 1 on-feed numbers in Texas were 9.9% fewer year over year and the least for the month since 2016.

Conversely, Anderson points out 4.7% more cattle were on feed year over year in Nebraska and 3.1% more in Kansas. Numbers were also higher in Iowa and South Dakota.

“Clearly, the border closure to cattle from Mexico is taking its toll,” Anderson explains, in the most recent issue of In the Cattle Markets. “Feeder cattle imports from Mexico normally increase seasonally in the Fall, so the disparity in regional feeding inventories is likely to grow, including Nebraska supplanting Texas as the largest cattle feeding state.”

Total cattle on feed Sept. 1 of 11.08 million head were 118,000 head fewer (-1.1%), according to the September Cattle on Feed report. The number represents feedlots with 1,000 head or more capacity. Placements of 1.78 million head in August were 196,000 head fewer (-9.9%) than the same time a year earlier.

“Placements have declined more than the on-feed inventory up to this point aided by a slower turnover rate in feedlots,” explains Derrell Peel, Extension livestock marketing specialist at Oklahoma State University, in his weekly market comments. “Smaller calf crops and limited feeder cattle supplies mean there is less cattle available for feedlot production. Feedlot production and beef production are expected to continue to decline into 2027.”

Cattle futures stormed higher Monday, fueled by news that New World screwworm was confirmed just about 70 miles south of the U.S. border (see below) and traders thinking it will prevent Mexican cattle imports for even longer. Last week’s Cattle on Feed report may have provided some added lift.

Toward the close, Live cattle futures were an average of $3.75 higher. Feeder Cattle futures were an average of $8.01 higher.

Negotiated cash fed cattle trade was inactive on light to moderate demand in all regions, through Monday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were steady in the Southern Plains at $240/cwt., $2-$4 lower in Nebraska at $236-$238 and $3-$4 lower in the western Corn Belt at $236-$237. Dressed delivered prices were $5-$8 lower in Nebraska at $370 and $2 to $7 lower in the western Corn Belt at $368-$376.

The five-area direct weighted average FOB live fed steer price last week was $1.82 lower at $237.51. The weighted average dressed delivered fed steer price was $5.27 lower at $370.88.

Choice boxed beef cutout value was 66¢ lower Monday afternoon at $381.39/cwt. Select was $2.17 higher at $362.09.

Soybean futures led the grain complex lower again Monday, pressured by Argentina lowering its export tax for a time.

Toward the close and through away Jly contracts, Corn futures were 2¢ lower. Kansas City Wheat futures were 5¢ lower. Soybean futures were 13¢ to 14¢ lower.

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Major U.S. financial indices closed higher again Monday with follow-through support.

The Dow Jones Industrial Average closed 166 points higher. The S&P 500 closed 29 points higher. The NASDAQ was up 157 points.

Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were 4¢ lower to 6¢ higher through the front six contracts.

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Late Sunday, Mexico’s National Service of Agro-Alimentary Health, Safety, and Quality (SENASICA) confirmed a new case of New World screwworm (NWS) in Sabinas Hidalgo, located in the state of Nuevo León, less than 70 miles from the U.S.-Mexico border.

This is now the northernmost detection of NWS during this outbreak, and the one most threatening to the American cattle and livestock industry, according to USDA. Sabinas Hidalgo is located near the major highway from Monterrey, Nuevo Leon, to Laredo, Texas, which is one of the most heavily trafficked commercial thoroughfares in the world.

“Protecting the United States from NWS is non-negotiable and a top priority of the Trump Administration,” says U.S. Secretary of Agriculture Brooke L. Rollins. “This is a national security priority. We have given Mexico every opportunity and every resource necessary to counter NWS since announcing the NWS Bold Plan in June 2025. Nevertheless, American ranchers and families should know that we will not rely on Mexico to defend our industry, our food supply, or our way of life. We are firmly executing our five-pronged plan and will take decisive action to protect our borders, even in the absence of cooperation. Furthermore, we will pursue aggressive measures against anyone who harms American livestock.”

The previous northernmost detection was reported on July 9, 2025, in Veracruz, approximately 370 miles farther south. Preliminary reports from SENASICA indicate that the affected animal—an 8-month-old heifer—had recently been moved to a certified feedlot in Nuevo León from a region in southern Mexico with known active NWS cases. The potential link to animal movement underscores the non-negotiable need for Mexico to fully implement and comply with the U.S.–Mexico Joint Action Plan for NWS in Mexico, according to USDA.

Currently, U.S. ports remain closed to imports of cattle, bison, and horses from Mexico.