WLI

Cattle futures strengthened Tuesday, perhaps with renewed focus on tightening supplies.

Toward the close, Live Cattle futures were an average of $2.11 higher. Feeder Cattle futures were an average of $2.68 higher.

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

Last week, FOB live prices were $256-$258/cwt., in Kansas and $256 elsewhere. Dressed delivered prices were mainly $405.

Choice boxed beef cutout value was 70¢ higher Tuesday afternoon at $392.90/cwt. Select was $1.16 lower at $376.93.

Grain and Soybean futures were mixed Tuesday with likely positioning ahead of Thursday’s World Agricultural Supply and Demand Estimates.

Toward the close, and through near Mar contracts, Corn futures were 1¢ lower to 1¢ higher. Soybean futures were mostly 1¢ to 5¢ lower. Kansas City HRW Wheat futures were fractionally higher to 1¢ higher.

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Major U.S. financial indices closed mixed Tuesday with most of the pressure from tech stocks.

The Dow Jones Industrial Average closed 86 points higher. The S&P 500 closed 19 points lower. The NASDAQ was down 250 points.

Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $1.39 to $3.02 lower through the front six contracts.

Cattle futures softened Monday with likely profit taking and positioning.

Toward the close, Live Cattle futures were an average of $4.16 lower. Feeder Cattle futures were an average of $3.54 lower.

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

Last week, FOB live prices were $1 lower in the Texas Panhandle at $256/cwt., $1 lower to $1 higher in Kansas at $256-$258, mainly $1 lower in Nebraska at $256 and steady to $2 lower in the western Corn Belt at $256. Dressed delivered prices were mainly $405, which was mostly steady.

The five-area direct weekly weighted FOB live fed steer price was 33¢ lower at $256.53. The weighted average dressed delivered fed steer price was 53¢ lower at $404.66.

Choice boxed beef cutout value was 50¢ lower Monday afternoon at $392.20/cwt. Select was $4.60 lower at $378.09.

Corn and Soybean futures tried to firm on Monday and Kansas City wheat was higher.

Toward the close, and through near Mar contracts, Corn futures were fractionally higher to 2¢ lower. Soybean futures were fractionally lower to 4¢ lower. Kansas City HRW Wheat futures were 5¢ to 8¢ higher.

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Major U.S. financial indices closed mixed Monday, lifted by tech stocks but pressured by rising oil prices.

The Dow Jones Industrial Average closed 80 points lower. The S&P 500 closed 21 points higher. The NASDAQ was up 220 points.

West Texas Intermediate Crude Oil futures (CME) were 73¢ to $1.86 higher through the front six contracts.

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The U.S. Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service (APHIS) confirmed two additional cases of New World screwworm (NWS) in the United States – a calf in La Salle County, Texas, and a dog in Lea County, New Mexico.

“Confirmation of NWS in the country removes one source of uncertainty and allows the market to focus on the reality, which has largely been priced into the market,” says Derrell Peel, Extension livestock marketing specialist at Oklahoma State University, in his weekly market comments. “The ‘good’ news in all this is that it is not a broader market issue. NWS will affect relatively few animals and is not something that will affect the cattle supply or beef production. It also is not a food safety issue and there are no impacts on meat. Beef market supply and demand fundamentals are not affected and no significant market impacts are anticipated. Additionally, no major trade impacts are warranted or expected relative to NWS.”

With that said, various states have implemented elevated requirements for cattle moving to and through their state from some or portions of Texas. Canada also placed a temporary ban on cattle from Texas.

“Another part of the uncertainty about NWS is the continued closure of the Mexican border,” Peel says. “It is uncertain if the fact of NWS in the U.S. will change political decisions regarding the status of border. The market will continue to wait for news about when the border might open. Once again, the impacts are more related to the uncertainty than the reality. When it happens, opening the border will likely be a deliberate and relatively slow process…” 

Cattle futures extended gains Friday.

Live Cattle futures were an average of 79¢ higher. Feeder Cattle futures were an average of 53¢ higher, except for 25¢ lower in the back contract.

Week to week on Friday, Live Cattle futures closed an average of $2.01 higher, and Feeder Cattle futures closed an average of $6.22 higher.

Negotiated cash fed cattle trade was limited on moderate demand in Kansas and Nebraska through Friday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend, there were some FOB live trades at $258/cwt.

Elsewhere, trade was mostly inactive on moderate demand.

Based on established trade for the week, FOB live prices were $1 lower in the Texas Panhandle at $256/cwt., steady to $1 higher in Kansas at $257-$258, mainly $1 lower in Nebraska at $256 and steady to $2 lower in the western Corn Belt at $256. Dressed delivered prices were mainly $405, which was mostly steady.

Choice boxed beef cutout value was 4¢ higher Friday afternoon at $392.66/cwt. Select was 35¢ lower at $383.04. Week to week on Friday, Choice boxed beef cutout value was $1.23 higher, but Select was 49¢ lower.

Total cattle slaughter last week of 533,000 head was 85,000 head more than the previous week but 48,000 head fewer than the same week last year. Year-to-date total cattle slaughter of 11.7 million head was 1.2 million head fewer (-9.1%) than the same time last year. Year-to-date beef production of 10.5 billion pounds was 726.6 million pounds less (-6.5%).

Grain and Soybean futures continued lower Friday with pressure from positive weather.

Soybean futures were 4¢ to 8¢ lower through near Jan and then mostly 2¢ lower.

Kansas City HRW Wheat futures were fractionally mixed to 3¢ lower through May ’27 and then 5¢ to 7¢ lower.

Corn futures were 4¢ to 7¢ lower through Jly ‘27. Week to week on Friday, they were an average of 28¢ lower through the front six contracts. That’s an average of 40¢ lower over the past two weeks in those same contracts.

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Major U.S. financial indices melted lower Friday, fueled by an exodus in chip stocks. On the positive side of the ledger, the U.S. added more jobs than expected last month.

Total nonfarm payroll employment increased by 172,000 in May, and the unemployment rate was unchanged at 4.3%, according to the U.S. Bureau of Labor Statistics. Average hourly earnings for all employees on private nonfarm payrolls last month rose by 12¢ to $37.53. Over the year, average hourly earnings increased by 3.4%.

The Dow Jones Industrial Average closed 695 points lower. The S&P 500 closed 200 points lower. The NASDAQ was down 1,121 points.

West Texas Intermediate Crude Oil futures (CME) were $1.00 to $2.50 lower through the front six contracts.

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USDA’s Animal and Plant Health Inspection Service (APHIS) confirmed a second detection of New World screwworm (NWS) on Friday. The confirmed case was found in a one-month-old calf in Zavala County, Texas, approximately 5.6 miles away from the first confirmed detection. APHIS and Texas animal health officials continue to collect and test other samples from the surrounding area which have come back negative.

“USDA has responded expediently with respect to this second detection, demonstrating our utmost preparedness. This second detection is within the established movement control zone and enhanced sterile insect dispersal area.” says Dudley Hoskins, Under Secretary for Marketing and Regulatory Programs. “Many models projected this pest would reach the United States last year, but thanks to USDA’s phenomenal work and our cooperation with state, federal, and industry partners, we’ve held it off until now—when we are far more prepared to respond. USDA has not wasted any time in this fight, we have defeated New World screwworm before, and we will do it again.”

The APHIS strike team in Texas includes veterinary medical officers and animal health technicians – experienced experts who serve as USDA’s boots on the ground response force.

The U.S. Food and Drug Administration has issued emergency use authorizations for several NWS treatments for different species. Currently, there are treatments available to support cattle, horses, swine, goats, captive exotic animals, and wildlife.

The National Veterinary Stockpile has relocated NWS treatment supplies to Texas to better support affected producers in the infested zone. If you or anyone you know needs access to these treatment supplies, they are now available and can be obtained by reaching out directly to the Texas Animal Health Commission (TAHC).

Cattle futures roared higher Thursday, despite confirmation of New World screwworm in the United States. Apparently, the eventuality was priced into the market and removing the uncertainty added buyer confidence.

Feeder Cattle futures were an average of $10.68 higher, limit up in all but three contracts. Live Cattle futures were an average of $3.85 higher .

Negotiated cash fed cattle trade ranged from limited on moderate demand in Nebraska to mostly inactive on moderate demand elsewhere through Thursday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend, there were some FOB live trades at $255-$257/cwt.

Based on established trade for the week, FOB live prices are mainly $256, which is $1 lower in the Southern Plains and Nebraska and steady to $2 lower in the western Corn Belt. Dressed delivered prices are mainly $405, which is mostly steady.

Based on independent reports early today, prices were gaining.

Choice boxed beef cutout value was $3.20 lower Thursday afternoon at $392.66/cwt. Select was $1.39 lower at $383.04.

Grain and Soybean futures stepped lower Thursday, pressured by positive weather and lower Crude Oil.

Corn futures closed mostly 7¢ to 9¢ lower. Soybean futures closed 18¢ to 27¢ lower. Kansas City HRW Wheat futures were 3¢ to 5¢ lower.

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Major U.S. financial indices closed mixed Thursday, as investors rotated out of tech stocks.

The Dow Jones Industrial Average closed 874 points higher. The S&P 500 closed 30 points higher. The NASDAQ was down 23 points.

West Texas Intermediate Crude Oil futures (CME) were $1.96 to $2.98 lower through the front six contracts.

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As reported recently, the Animal and Plant Health Inspection Service (APHIS) confirmed a case of New World screwworm (NWS) on a cattle operation near La Pryor, Texas, about 50 miles from the Mexico border. Samples were taken from a 3-week-old calf with larvae present in an umbilical lesion and sent to the National Veterinary Services Laboratories in Ames, IA, for confirmatory testing, according to the Kansas Livestock Association (KLA). Currently, there are no other cases.

The infected operation has been quarantined, and a 20 km/12.4 mi. infested zone has been established around the location for movement control and surveillance, according to the KLA. Stop movement orders will not impact cattle movements or operations outside this zone. APHIS has expedited the targeted release of sterile NWS flies by immediately deploying ground-release chambers in the area, in addition to the 4 million sterile flies per week already being released aerially in the region. Trapping efforts also are being increased along the border and just outside the dispersal area.

This is the first detection of New World screwworm in Texas since northward progression from Central America was observed in 2023. The Texas Animal Health Commission is working closely with USDA and other state officials in a joint incident response.

“The Texas Animal Health Commission has been actively preparing for a resurgence of New World screwworm for over two years,” says Dr. Bud Dinges, Texas Animal Health Commission state veterinarian and executive director. “We are putting these preparations into action, and we encourage all animal owners and caretakers to continue to remain vigilant for the presence of larvae in animal wounds and immediately report any suspicions.”

USDA emphasizes the U.S. food supply is safe. USDA’s Food Safety and Inspection Service (FSIS) ensures that the nation’s commercial supply of meat, poultry, and egg products is safe and properly labeled. NWS do not infest meat, fruits, vegetables, or other food sources.

Cattle futures were lower Wednesday, pressured by reports that USDA was testing two calves from Texas for New World screwworm infection, as well as negative outside markets.

Toward the close, Live Cattle futures were an average of $2.05 lower. Feeder Cattle futures were an average of $5.61 lower.

Negotiated cash fed cattle trade was active on good demand in Nebraska through Wednesday afternoon, according to the Agricultural Marketing Service. FOB live prices were mainly $1 lower at mostly $256 and dressed delivered prices were unevenly steady at mostly $405.

Trade was moderate on moderate demand in the Western Cornbelt. Early live FOB live prices were steady to $2 lower at $256 and early dressed delivered prices were steady at $405.

In the Southern Plains, trade was limited on moderate demand. Although too few transactions to trend, there were some FOB live trades at $256. Prices in the region last week was mostly $257.

Choice boxed beef cutout value was $1.79 higher Wednesday afternoon at $392.83/cwt. Select was 38¢ lower at $384.43.

Grain and Soybean futures continued lower Wednesday.

Toward the close, and through near Mar contracts, Corn futures were 7¢ to 9¢ lower.

Soybean futures were 10¢ to 12¢ lower. Kansas City HRW Wheat futures were 9¢ to 10¢ lower.

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Major U.S. financial indices closed lower Wednesday, pressured by increasing Treasury Yield rates and Crude Oil prices related to worries about higher inflation stemming from the lack of resolution to the U.S-Iran war.

The Dow Jones Industrial Average closed 620 points lower. The S&P 500 closed 56 points lower. The NASDAQ was down 239 points.

Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $1.24 to $2.47 higher through the front six contracts.