WLI

Negotiated cash fed cattle trade ranged from limited on moderate demand in the North to inactive on light demand in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service.

Although too few to trend, there were some early FOB live sales in Nebraska at $240/cwt. and in the western Corn Belt at $238-$240.

Last week, FOB live prices were $235 in Kansas, $234-$235 in Nebraska and mainly $235 in the western Corn Belt. Dressed delivered prices were $362.

FOB live prices in the Texas Panhandle the previous week were $233.

Choice boxed beef cutout value was 37¢ lower Thursday afternoon at $366.11/cwt. Select was 23¢ lower at $348.93.

Cattle futures rose Thursday with the promise of higher cash fed cattle prices for the week.

Live Cattle futures closed an average of $1.23 higher.

Feeder Cattle futures closed an average of $1.07 higher, except for 5¢ lower in spot Oct.

Then came President Trump’s widely reported and nebulous comments that the White House had a plan to lower beef prices soon. Through mid-day today, Live Cattle futures were an average of $6.16 lower and Feeder Cattle futures were an average of $9.06 lower — limit down in all but one contract.

Grain and Soybean futures firmed Thursday with technical support and positive chatter about trade talk with China.

Corn futures closed mostly 2¢ to 5¢ higher. KC HRW Wheat closed fractionally mixed to 1¢ lower. Soybean futures closed 2¢ to 4¢ higher through Mar ‘27.

Cattle futures paused from the recent surge on Wednesday.

Live Cattle futures closed narrowly mixed, from an average of 13¢ lower in four contracts to an average of 19¢ higher.

Feeder Cattle futures closed from an average of 34¢ lower, except for an average of 8¢ higher in three contracts.

Cattle futures were mainly higher through mid-day Thursday.

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 $235/cwt. in Kansas, $234-$235 in Nebraska and mainly $235 in the western Corn Belt. Delivered prices were $362.

FOB live prices in the Texas Panhandle the previous week were $233.

Many anticipate sharply higher cash fed cattle prices when gets underway this week.

Choice boxed beef cutout value was $2.06 higher Wednesday afternoon at $366.48/cwt. Select was $1.39 lower at $349.16.

Grain and Soybean futures were narrowly mixed Wednesday.

Corn futures closed 2¢ to 3¢ higher through Mar ‘27. KC HRW Wheat closed fractionally lower. Soybean futures closed mostly fractionally higher to 1¢ higher.

Cattle futures rolled higher Tuesday, supported by cash.

Live Cattle futures closed an average of $1.76 higher. Feeder Cattle futures closed an average of $4.31 higher. They’re taking a breather so far on Wednesday.

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 $235/cwt. in Kansas, $234-$235 in Nebraska and mainly $235 in the western Corn Belt. Dressed delivered prices were $362.

FOB live prices in the Texas Panhandle the previous week were $233.

Choice boxed beef cutout value was 51¢ higher Tuesday afternoon at $364.42/cwt. Select was 80¢ higher at $350.55.

Grain futures were higher Tuesday, especially Wheat on likely short covering and technical buying.

KC HRW Wheat closed 5¢ to 7¢ higher. Corn futures closed 1¢ to 2¢ higher through Jly ’26 and then unchanged to fractionally mixed. Soybean futures closed mostly 1¢ to 2¢ lower.

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Major U.S. financial indices closed mixed Tuesday amid volatility stemming from escalating trade tensions with China and the lingering U.S. government shutdown.

The Dow Jones Industrial Average closed 202 points higher. The S&P 500 closed 13 points lower. The NASDAQ was down 172 points.

West Texas Intermediate Crude Oil futures (CME) closed 73¢ to 80¢ lower through the front six contracts.

Cattle futures continued to churn higher Monday.

Toward the close, Live Cattle futures were an average of $1.12 higher. Feeder Cattle futures were an average of $2.18 higher, except for 12¢ lower in spot Oct.

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 $2-$3 higher in Kansas at $235/cwt., $4-$5 higher in Nebraska at $234-$235 and mostly $5 higher in the western Corn Belt at mainly $235. Dressed. Delivered prices were $2 higher at $362.

FOB live prices in the Texas Panhandle the previous week were $233.

The weighted average five-area direct FOB live fed steer price last week was $3.31 higher at $234.07/cwt. The weighted average dressed delivered fed steer price was $2.88 higher at $362.52.

Choice boxed beef cutout value was $1.66 lower Monday afternoon at $363.91/cwt. Select was $3.36 higher at $349.75.

Grain and Soybean futures were mixed Monday.

Toward the close and through Jly contracts, Corn futures were 1¢ to 2¢ lower. KC HRW Wheat were 1¢ to 2¢ lower. Soybean futures were mostly 1¢ to 3¢ higher on easing trade tensions with China, at least for the day.

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Major U.S. financial indices closed higher Monday. Presumably it was a softer tone from the White House regarding previously threatened higher tariffs on China, which drove indices sharply lower the previous session.

The Dow Jones Industrial Average closed 587 points higher. The S&P 500 closed 102 points higher. The NASDAQ was up 490 points.

Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were 69¢ to 82¢ higher through the front six contracts.

Cattle futures started Friday’s session lower with traders apparently taking some profits from the week’s bullish gains. Then cash fed cattle trade erupted with significantly higher prices and futures were off to the races again.

Live Cattle futures closed an average of $2.45 higher. Feeder Cattle futures closed an average of $2.96 higher.

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

Based on the last established trades reported for the week, FOB live prices were $4-$5 higher in Nebraska at $234-$235/cwt. and $2-$5 higher in the western Corn Belt at $232-$235. Dressed delivered prices were $2 higher in Nebraska at $362. There were also some dressed delivered trades in the Western Corn Belt at $362, but too few to trend; price the previous week was $360.

FOB live prices in the Southern Plains the previous week were $232-$233.

Choice boxed beef cutout value was 35¢ higher Friday afternoon at $365.57/cwt. Select was $2.06 higher at $346.39.

Soybean futures sank Friday in response to heightened trade tensions between China and the U.S. cast further doubt about a resolution between the two countries, which might lead to increased pressure on U.S. agricultural commodity exports.

Soybean futures closed mostly 10¢ to 15¢ lower.  Corn futures closed 4¢ to 5¢ lower through Jly ’26 and then 1¢ to 2¢ lower. KC HRW Wheat closed mostly 6¢ lower.

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Major U.S. financial indices closed sharply lower Friday after U.S. President Trump threatened to increase tariffs on China in retaliation for that nation’s increased restrictions on its rare earth mineral exports.

The Dow Jones Industrial Average closed 878 points lower. The S&P 500 closed 182 points lower. The NASDAQ was down 820 points.

Oil futures also sank in response to the U.S.-China standoff. West Texas Intermediate Crude Oil futures (CME) were $2.27 to $2.61 lower through the front six contracts.

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Pasture and range conditions across wide swaths of cattle country continue to provide one of the necessary ingredients for beef cow herd expansion.

Analysts with the Livestock Marketing Information Center (LMIC) point to the latest available USDA Crop Progress report for the week ending Sept 28, which rated 32% of the nation’s pasture and range in Good or Excellent condition, which was 6% more than a year earlier. On the other side of the scale, 35% was rated as Poor or Very Poor which was 8% less than a year earlier.

“In the Southern Plains, current conditions are among the best observed in the past decade, with the share of Poor and Very Poor acres down 19.5% from the same week last year,” LMIC analysts explain, in the latest Livestock Monitor. “The Great Plains have not fared quite as well, though major improvements since early summer have brought conditions back close to the 10-year average, with poor and very poor ratings down 11.4% year over year.”

Feed costs are also lower. Hay prices in August averaged $158 per ton, down 4.8% year over year and 36% less than the peak in August 2022, according to LMIC.

Moreover, LMIC analysts say Grass-Cast forecasts indicate aboveground net primary production (ANPP) of grasslands through 2025 should remain positive relative to the 36-year average.

“The Southern Plains, along with parts of northwest South Dakota, southwest North Dakota and southeast Montana are expected to see growth exceeding 15%,” LMIC analysts say. “Most other areas of the Great Plains are forecast to remain near the long-term average, though some northern regions could experience declines of 5% to 15%.”