WLI

Cattle futures were higher Friday, helped along by steady cash fed cattle prices.

Live Cattle futures were an average of $1.34 higher. Feeder Cattle futures were an average of $2.60 higher.

Week to week on Friday, Live Cattle futures closed an average of $3.46 higher. Feeder Cattle futures closed an average of $6.96 higher.

Negotiated cash fed cattle trade ranged from light to moderate on moderate demand in the Southern Plains to moderate on moderate to good demand in Nebraska through Friday afternoon, according to the Agricultural Marketing Service.

For the week, FOB live prices were steady to $1 lower in the Texas Panhandle at mostly $235/cwt. and steady elsewhere at mostly $235. Dressed delivered prices were mostly steady at mainly $372.

Choice boxed beef cutout value was 19¢ lower Friday afternoon at $400.11/cwt. Select was 49¢ higher at $392.94. Week to week on Friday, Choice was $2.89 higher and Select was 70¢ higher.

Estimated total cattle slaughter last week of 508,000 head was 17,000 head fewer than the previous week and 50,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 6.0 million head was 653,000 head fewer (-9.8%) than the same time last year. Estimated year-to-date beef production of 5.4 billion pounds was 429.8 million pounds less (-7.4%).

Grain and Soybean futures closed lower Friday on likely profit taking.

Kansas City HRW Wheat futures were 21¢ lower. Corn futures were 3¢ to 4¢ lower through Jly ‘27. Soybean futures were 5¢ to 7¢ lower through Aug ‘27.

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Major U.S. financial indices continued lower Friday as nearby Crude Oil futures stepped higher with no end in sight for the U.S.-Israel attack on Iran and mounting concerns about domestic price inflation.

The Dow Jones Industrial Average closed 443 points lower. The S&P 500 closed 100 points lower. The NASDAQ was down 443 points.

West Texas Intermediate Crude Oil futures (CME) were 17¢ to $2.68 higher through the front six contracts.

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Markets might view Friday’s monthly Cattle on Feed report as unfriendly with more placements than expected.

Feedlots with 1,000 head or more capacity placed 1.61 million head in February, which was 3.7% more than a year earlier and 4.7% more than average analyst estimates ahead of the report.

In terms of weights, 36% went on feed weighing 699 lbs. or less, 53% weighing 700-899 lbs. and 11% weighing 900 lbs. or more.

Feedlots marketed 1.52 million head in February, which was 111,000 head fewer (-6.8%) than a year earlier, about 1% more than expectations. Marketings were the second least for the month since the data series began in 1996.

On-feed inventory March 1 of 11.55 million head was just 28,000 head fewer (-0.2%) than the prior year, which was slightly more than expected.

Cattle futures were lower Thursday, weighed down by bearish outside markets, tied to escalating energy prices and uncertainty stemming from the U.S.-Israel attack on Iran.

Toward the close, Live Cattle futures were an average of $2.25 lower. Feeder Cattle futures were an average of $5.54 lower ($3.05 to $6.42 lower).

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

Last week, FOB live prices were $235-$236/cwt. on a light test in the Texas Panhandle and mostly $235 elsewhere. Dressed delivered prices in the North were mainly $372.

Choice boxed beef cutout value was $1.45 lower Thursday afternoon at $400.30/cwt. Select was $3.72 lower at $392.45.

Corn and Soybean futures were higher Thursday, riding the coattails of Crude Oil futures prices and inflation concerns, while traders added weather premium to Hard Red Winter Wheat futures.

Toward the close, and through near Sep contracts, Corn futures were 5¢ to 6¢ higher. Soybean futures were 6¢ to 7¢ higher. Kansas City HRW Wheat futures were 4¢ higher.

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Major U.S. financial indices extended losses Thursday on elevated Crude Oil futures and inflation worries.

The Dow Jones Industrial Average closed 203 points lower. The S&P 500 closed 18 points lower. The NASDAQ was down 61 points.

Through mid-afternoon, after trading higher earlier in the session, West Texas Intermediate Crude Oil futures (CME) were 55¢ to $1.43 lower through the front six contracts.

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USDA’s Economic Research Service (ERS) increased projected feeder steer prices for this year in the March Livestock, Dairy and Poultry Outlook, based on recent price strength and continued firm demand.

For Medium and Large No. 1 steers weighing 750-800 lbs. and selling at Oklahoma National Stockyards, ERS increased prices $3 in the first quarter to $366/cwt., $4 in the second and third quarters to $367 and $1 in the fourth quarter to $369. The annual average price increased $3 to $367.25.

“The fundamentals surrounding cattle supplies still give support to cattle prices despite volatility in the futures market,” ERS analysts say. “Further, U.S. feeders and stocker operations continue to buoy feeder cattle prices as they try to secure their needs.”

ERS analysts add that February’s weighted-average price for feeder steers weighing 750–800 pounds at Oklahoma National Stockyards was $371.42/cwt.  — $101 above the prior year and the second-highest monthly average price on record.

Live Cattle futures eased higher on Wednesday, bolstered by thoughts that negotiated cash fed cattle prices could increase this week, and despite bearish outside markets. Feeder Cattle futures wobbled, though, with resurgent Corn futures and perhaps positioning ahead of Friday’s Monthly Cattle on Feed report. Broadly, analysts see February placements on par year over year, February marketings down about 7.5% and the March 1 on-feed inventory down about 0.5%.

Toward the close, Live Cattle futures were an average of 66¢ higher. Feeder Cattle futures were an average of 47¢ lower, except for 12¢ higher in Oct.

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

Last week, FOB live prices were $235-$236/cwt. on a light test in the Texas Panhandle and mostly $235 elsewhere. Dressed delivered prices in the North were mainly $372.

Choice boxed beef cutout value was $1.56 lower Wednesday afternoon at $401.75/cwt. Select was 55¢ lower at $396.17.

Grain and Soybean futures were higher Wednesday, supported by higher crude oil prices and likely inflationary buying.

Toward the close, and through near Sep contracts, Kansas City HRW Wheat futures were 18¢ higher. Corn futures were 9¢ higher. Soybean futures were 6¢ to 11¢ higher.

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Major U.S. financial indices closed lower Wednesday, buffeted by rising crude oil futures, a negative inflation reading and comments by the FOMC in its announcement to leave interest rates unchanged.

First, the Producer Price Index for final demand increased 0.7% in February, seasonally adjusted, according to the U.S. Bureau of Labor Statistics, which was significantly higher than expected. On an unadjusted basis, the index for final demand rose 3.4% for the 12 months ended in February, the largest 12-month advance since increasing 3.4% in February 2025.

Next, according to Fed Chair Jerome Powell, in press-conference comments, “Inflation has eased significantly from its highs in mid-2022 but remains somewhat elevated relative to our 2% percent longer-run goal. Estimates based on the Consumer Price Index and other data indicate that total PCE prices rose 2.8% over the 12 months ending in February and that, excluding the volatile food and energy categories, core PCE prices rose 3.0%. These elevated readings largely reflect inflation in the goods sector, which has been boosted by the effects of tariffs. Near-term measures of inflation expectations have risen in recent weeks, likely reflecting the substantial rise in oil prices caused by supply disruptions in the Middle East.

The Dow Jones Industrial Average closed 768 points lower. The S&P 500 closed 91 points lower. The NASDAQ was down 327 points.

Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $3.52 to $4.06 higher through the front six contracts.

Cattle futures wobbled Friday with uneven outside markets and wonderment about the potential strike at the JBS plant in Greeley next week.

Live Cattle futures closed an average of 42¢ lower. Feeder Cattle futures were mixed, from an average of 64¢ lower to an average of 68¢ higher. Week to week on Friday, Live Cattle futures closed an average of $2.54 lower and Feeder Cattle futures closed an average of $7.26 lower.

Negotiated cash fed trade was limited on moderate to good demand in Kansas through Friday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend, there were some FOB live trades at $233-$235/cwt.

Elsewhere, trade was mostly inactive on light demand.

For the week, FOB live prices were mainly $5 lower at mostly $235 in Kansas, Nebraska and the western Corn Belt. Dressed delivered prices in the North were mainly $8 lower at mostly $372. The previous week, FOB live prices in the Texas Panhandle were $240.

Choice boxed beef cutout value was 83¢ higher Friday afternoon at $397.92/cwt. Select was 72¢ higher at $391.54. Week to week on Friday, Choice boxed beef cutout value was $10.00 higher and Select was $12.59 higher.

Estimated total cattle slaughter last week of 525,000 head was 4,000 head more than the previous week but 61,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 5.5 million head was 606,000 head less (-9.9%) than the same time last year. Estimated year-to-date beef production of 4.9 billion pounds was 406.8 million pounds less (-7.6%).

Grain futures were higher Friday, led by wheat.

Kansas City HRW Wheat futures closed 12¢ to 17¢ higher through Jly ‘27 then mostly 11¢ higher with likely short covering and perhaps some weather premium.

Corn futures were 2¢ to 4¢ higher through near Sep and then fractionally higher to 1¢ higher, helped along by higher crude oil prices.

Soybean futures closed 2¢ to 6¢ lower with likely profit taking.

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Major U.S. financial indices continued lower Friday as crude oil prices kept gaining.

The Dow Jones Industrial Average closed 119 points lower. The S&P 500 closed 40 points lower. The NASDAQ was down 206 points.

West Texas Intermediate Crude Oil futures (CME) were $1.24 to $2.98 higher through the front six contracts.

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U.S. beef exports continue to show resilience, despite the lack of access to Chinese markets, according to the latest data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).

Beef exports in January totaled 92,558 metric tons (mt), down 10% year-over-year. However, value fell just 3% to $780.1 million, as exports have commanded higher prices. Still, prices are not being maximized to the degree that would be possible with China back in the mix. When excluding China from the January results, exports increased 5% in volume and climbed 16% in value. January beef shipments trended higher year-over-year to Korea, Japan, Taiwan, the Caribbean, the ASEAN and South America, with export value also increasing to Mexico, Canada and Central America.

Beef export value per head of fed slaughter was more than $415, the highest since March and reflecting solid demand in other markets.

Beef variety meat exports in January increased 6% year over year to 27,511 mt, the most in more than four years. Beef variety meat export value soared 46% to a record $126 million.

“Beef variety meat value reaching new heights for the second consecutive month is great news for cattle producers and for the entire supply chain,” says Dan Halstrom, USMEF president and CEO. “With cattle numbers being tight, it is more critical than ever to maximize the value of every animal. And while much of this export growth was driven by tongues and skirts going to Japan, demand was strong in a wide range of markets.”

For broader perspective, U.S. pork exports trended higher year-over-year in January with volume 3% more than a year earlier at 250,861 mt and value 4% more at $692.1 million.

Cattle futures firmed Thursday, helped by rising wholesale beef values and the cash premium to futures.

Toward the close, Live Cattle futures were an average of $1.40 higher, except for 95¢ lower in the back contract. Feeder Cattle futures were an average of 61¢ higher, except for 5¢ lower in spot March and $2.57 lower in the back contract.

Negotiated cash fed cattle trade ranged from limited on moderate demand in Nebraska to mostly inactive on moderate demand in the western Corn Belt through Thursday afternoon, according to the Agricultural Marketing Service. So far, this week, FOB live prices in both regions are mostly $5 lower at mainly $235/cwt. Dressed delivered prices are mostly $8 lower at mainly $372.

In the Southern Plains, trade was limited on moderate demand in the Texas Panhandle and mostly inactive on light demand in Kansas. So far this week, FOB live trades are $5 lower in Kansas at $235. FOB live prices in the Texas Panhandle last week were $240.

Choice boxed beef cutout value was 39¢ higher Thursday afternoon at $397.09/cwt. Select was $1.57 higher at $390.82.

Surging oil prices helped lift Corn and Soybean futures on Thursday.

Toward the close, and through near Sep contracts, Corn futures were fractionally higher to 5¢ higher. Soybean futures were 2¢ to 13¢ higher. Kansas City HRW Wheat futures 16¢ higher in waning March and then fractionally lower to 1¢ lower.

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Major U.S. financial indices closed sharply lower Thursday as crude oil prices continued higher, along with worries about disruptions in supply chains and pressure on the broader economy.

The Dow Jones Industrial Average closed 739 points lower. The S&P 500 closed 103 points lower. The NASDAQ was down 404 points.

Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $4.98 to $9.06 higher through the front six contracts.