Cattle Current Daily—June 17, 2025
Cattle futures closed higher Monday, gaining back much of the lost gains from the previous session, as wholesale beef values increased and outside markets rebounded from skittishness tied to the conflict between Israel and Iran.
Toward the close, Live cattle futures were an average of $2.72 higher. Feeder Cattle futures were an average of $3.89 higher.
There was no Monday afternoon USDA fed cattle report available at press time. Based on the latest report, FOB live prices last week were $3 higher in the Texas Panhandle at $235/cwt., mostly steady in Kansas at mainly $235, steady to $2 lower in Nebraska at $240-$242 and steady to $1 lower in the western Corn Belt at $240-$241. Dressed delivered prices were steady at $380.
The five-area direct weighted average FOB live steer price last week was $2.06 higher at $238.68. The dressed delivered steer price was 28¢ lower at 380.06.
Choice boxed beef cutout value was $4.23 higher Monday afternoon at $382.11. Select was $3.97 higher at $367.47.
Turning to row crops, futures were mixed Monday.
Toward the close and through Mar ‘26 contracts, Corn futures were 7¢ to 10¢ lower with pressure from recent rains and favorable weather. Kansas City Wheat futures were 4¢ lower.
However, Soybean futures were mostly 6¢ higher, extending gains from Fridays EPA announcement proposing increased Renewable Volume Obligations for biomass-based diesel in the Renewable Fuels Standard.
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Major U.S. financial indices pared losses from the previous session with lower Crude Oil futures and optimism for a resolution to the fighting between Israel and Iran.
The Dow Jones Industrial Average closed 37 points higher. The S&P 500 closed 56 points higher. The NASDAQ was up 294 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were 40¢ to $1.49 lower through the front six contracts.
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Based on various data, including forage conditions, the nation’s beef cow herd may be at the threshold of expansion, according to Derrell Peel, Extension livestock marketing specialist at Oklahoma State University.
“Though there is no data confirmation yet, it seems likely that heifer retention may be underway in several areas including the Southern Plains and points east,” Peel says, in his weekly market comments. ‘However, it is doubtful that much aggressive restocking or herd rebuilding is in progress in several major beef cow states from Nebraska north and west. In total it is likely to still be a slow pace of herd rebuilding.”
At the very least, Peel says it looks more likely the 27.9 million beef cows at the beginning of this year was the cyclical low.
“Although the inventory of bred heifers was record low, beef cow slaughter is down 16.2% for the first 21 weeks of the year, indicating a low level of cow culling that might allow for a fractional increase in the beef cow herd this year,” Peel says.
Further, Peel points out that Jan. 1 beef cow inventories were unchanged or slightly higher year over year in seven of the 10 largest beef cow states. He adds beef replacement heifer inventories at the beginning of the year were unchanged or higher in eight of those states.
Although forage conditions continue to be a limiting factor in some areas, Peel says, “It would appear that a number of major beef cow states are interested in herd rebuilding.”