Cattle futures stepped back from recent gains on Monday with likely profit taking and technical selling.
Toward the close, Live Cattle futures were an average of 81¢ lower, except for 17¢ higher in spot Dec. Feeder Cattle futures were an average of $2.76 lower.
Negotiated cash fed cattle trade was mostly inactive on light 70 moderate demand through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $5 higher in Kansas at $225/cwt., $10-$15 higher in Nebraska at $220-$225 and $10-$12 higher in the western Corn Belt at $220. Dressed delivered prices were $10-$15 higher in Nebraska at $340-$345 and $12-$15 higher in the western Corn Belt at $340-$345.
There was no reported established weekly in the Texas Panhandle last week. FOB live prices the previous week were $215-$220.
The five-area direct weighted average FOB live fed steer price last week was $9.68 higher at $221.21. The weighted average dressed delivered fed steer prices was $13.23 higher at $342.61.
Choice boxed beef cutout value was 30¢ lower Monday afternoon at $360.90/cwt. Select was $1.21 higher at $348.60.
Grain and Soybean futures were lower on Monday.
Toward the close and through Jly contracts, Soybean futures were 7¢ to 11¢ lower. Corn futures were fractionally lower to 2¢ lower. KC HRW Wheat futures were 3¢ to 5¢ lower.
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Major U.S. financial indices closed lower Monday with mixed inflation signals as investors awaited this week’s Fed decision about interest rates.
The Dow Jones Industrial Average closed 215 points lower. The S&P 500 closed 23 points lower. The NASDAQ was down 32 points.
Though mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were 1.09 to $1.22 lower through the front six contracts.
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“As 2025 wraps up there is still little indication of significant heifer retention for herd rebuilding though some retention may be beginning slowly,” says Derrell Peel, Extension livestock marketing specialist at Oklahoma State University, in his weekly market comments.
Peel notes the July Cattle report showed the smallest beef replacement heifer inventory in the history of the report, going back to 1973. He adds that, compared to July, the percentage of heifers in feedlots was unchanged in the October Cattle on Feed report and remained above average, as it has since late 2018.
“It is true that heifer slaughter is down 6.6% so far this year and is falling faster than steer slaughter, which is down 4.4% for the year to date. Average heifer slaughter peaked most recently in January 2023 and has declined 9.0% as of October 2025, Peel says. “Heifer slaughter is quite variable and does decrease during periods of herd expansion. However, at this point the decrease in heifer slaughter is not enough to indicate significant heifer retention.”
Listen to more of Peel’s market insights here.