Cattle futures were mainly higher Friday, helped along by last week’s stronger negotiated cash fed cattle prices.
Toward the close, Live Cattle futures an average of $1.23 higher. Feeder Cattle futures were an average of $1.09 higher, except for an average of 98¢ lower in the front two contracts.
Negotiated cash fed cattle trade was inactive on light demand through Monday afternoon, according to the agricultural Marketing Service.
FOB live prices last week were mostly $235/cwt., which was $2 higher in Kansas, $2-$3 higher in Nebraska and mostly steady to $3 higher in the western Corn Belt. Dressed delivered prices were mostly $370, which was $5-$10 higher in Nebraska and mostly $10 higher in the western Corn Belt.
Last week’s five-area direct weighted average FOB live fed steer price was $2.15 higher at $235.21. The weekly weighted average dressed delivered fed steer price was $8.50 higher at $371.11.
Choice boxed beef cutout value was $7.06 higher Monday afternoon at $371.42/cwt. Select was $1.53 lower at $350.84.
Grain and Soybean futures were mixed again on Monday with likely continued positioning ahead of Wednesday’s World Agricultural Supply and Demand Estimates.
Toward the close and through the front four contracts, Corn futures were unchanged to fractionally lower. Soybean futures were 3¢ to 4¢ higher. Kansas City HRW Wheat were 1¢ lower to 1¢ higher.
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Major U.S. financial indices closed little changed but to the low side on Monday as crude oil prices increased on the U.S.-Iran war.
The Dow Jones Industrial Average closed 60 points lower. The S&P 500 closed 4 points lower. The NASDAQ was down 85 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $2.96 to $3.56 higher through the front six contracts.
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“Cattle and beef markets are expected to continue recovering from the summer correction, but the persistent summer doldrums may make it a slow grind for the next few weeks,” says Derrell Peel, Extension livestock marketing specialist at Oklahoma State University.
In his weekly market comments, Peel points out recent hot temperatures have added market pressure, taking a seasonal toll on consumer demand
“Wholesale beef values have turned slightly higher in the past week with sputtering attempts at a last kick higher for Labor Day demand,” Peel notes. “Prolonged triple digit heat in many regions is making that more difficult. After a brief August boost, average boxed beef prices typically decrease to the end of the year, although tenderloin and ribeye prices move seasonally higher to the end of the year. Strong boxed beef prices in the second half of 2025 may be hard to match this year, even with good demand.”
Listen to more of Peel’s market insights here.