Cattle futures were mainly higher Monday, led by Feeder Cattle.
Toward the close, Live Cattle futures were an average 47¢ higher, except for an average of 43¢ lower in the front three contracts.
Feeder Cattle futures were an average of $1.07 higher (47¢ higher at the back to $1.55 higher near the front).
Negotiated cash fed cattle trade was 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 steady to $1 higher in Kansas at $229, $2 higher in Nebraska at $230 and steady to $2 higher in the western Corn Belt at $228-$230.
Dressed delivered prices were mostly steady to $2 lower in Nebraska at mainly $356 and steady to $2 higher in the western Corn Belt at $356-$360 on a light test.
The weekly weighted average five-area direct FOB live fed steer price was $1.36 higher at $229.33/cwt. The weekly weighted average dressed delivered fed steer price was 59¢ lower at $356.53.
Choice boxed beef cutout value was $1.88 lower Monday afternoon at $349.33/cwt. Select was $1.82 higher at $345.62.
Grain and Soybean futures were lower on Monday with little news, other than reportedly positive progress in resolving the Ukraine-Russia fighting and South America’s looming harvest.
Toward the close, through near Jly contracts, Corn futures were 7¢ lower. KC HRW Wheat futures were 5¢ to 6¢ lower. Soybean futures were mostly 7¢ to 9¢ lower.
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Major U.S. financial indices closed lower Monday on likely year-end profit taking.
The Dow Jones Industrial Average closed 209 points lower. The S&P 500 closed 24 points lower, and the NASDAQ was down 118 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were 99¢ to $1.09 higher through the front six contracts.
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Despite extraordinary volatility in the fourth quarter, Derrell Peel, Extension livestock marketing specialist at Oklahoma State University points out prices recovered from the steep sell-off and are ending the year higher for the third consecutive time.
Peel provides some of his expectations for 2026, in his weekly market comments:
Higher feeder and fed cattle prices“Seven years of declining calf crops, culminating in the 2025 calf crop at the lowest level since 1941, and limited signs of heifer retention mean the feeder cattle supplies will be tighter going into 2026 and may tighten even more during the year if heifer retention picks up,” Peel says.
Prices advancing more slowly“Feeder and fed cattle prices, though expected to increase, are likely to increase relatively less in 2026 compared to 2025,” Peel says. “In 2025, feeder cattle prices increased roughly 25-35%, while fed cattle prices increased 15-20%. Both feeder and fed prices are likely to see prices increase in the range of 5-15% in 2026.”
Continued volatility“Unfortunately, volatility is likely to continue to be a risk for cattle producers,” Peel says. “The big fourth quarter 2025 correction should remove the tendency for a market or technical correction for quite some time, but external sources of uncertainty are likely to continue injecting volatility into cattle markets going forward. With cattle and beef markets continuing to be a focus of political scrutiny, markets are subject to additional political rhetoric and meddling.”