Cattle Current Daily—Feb. 3, 2025

Cattle Current Daily—Feb. 3, 2025

Cattle futures bounced back Friday, buoyed by the week’s stronger cash fed cattle prices and ahead of what turned out to be a generally neutral USDA Cattle report compared to expectations (see below).

Live Cattle futures were an average of 74¢ higher (12¢ higher at the front to $1.07 higher at the back). Week to week they were an average of 40¢ lower, except for an average of 3¢ higher in the back three contracts.

Feeder Cattle futures were an average of $2.40 higher. They were an average of 70¢ lower week to week.

Negotiated cash fed cattle trade ranged from a standstill in the Texas Panhandle to slow on moderate demand elsewhere through Friday afternoon, according to the Agricultural Marketing Service.  

For the week, FOB live prices were $6-$7 higher in the Southern Plains at $208/cwt. and steady to $2 lower in Nebraska at $210, where dressed delivered prices were steady to $2 higher at $330.

The previous week, FOB live prices were $210-$212 in the western Corn belt, where dressed delivered prices were $330.

Choice boxed beef cutout value was 20¢ higher Friday afternoon at $327.68/cwt. Select was $1.17 higher at $317.07. Week to week on Friday, Choice boxed beef cutout value was 24¢ lower but Select was 78¢ higher.

Estimated total cattle slaughter last week of 600,000 head was 1,000 head more than the previous week but 32,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 2.7 million head was 266,000 head fewer (-9%) than the same period last year. Year-to-date estimated beef production of 2.3 billion pounds was 116.4 million pounds less (-4.7%).

Turning to the grain complex, grain and Soybean futures closed lower Friday with week-end and month-end squaring and likely positioning ahead of the looming tariffs announced Saturday (see below).

Corn futures were 6¢ to 8¢ lower through old-crop contracts and then mostly 1¢ to 3¢ lower.

Kansas City Wheat futures were 8¢ to 9¢ lower through May ’26 and then 6¢ to 7¢ lower.  

Soybean futures were 2¢ to 4¢ lower.

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Major U.S. financial indices closed lower Friday with trepidation over the U.S. tariffs on imports from Canada, Mexico and China.

The Dow Jones Industrial Average closed 337 points lower. The S&P 500 closed 30 points lower. The NASDAQ was down 54 points.

West Texas Intermediate Crude Oil futures on the CME were 20¢ to 25¢ lower through the front five contracts.

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All cattle and calves in the United States Jan. 1 numbered 86.7 million head, according to USDA’s Cattle report. That was 492,200 head fewer (-0.6%) year over year.

There were 27.9 million beef cows, which were 149,500 head fewer (-0.5%). Beef replacement heifers of 4.7 million head were 45,900 head fewer (-0.1%).

Cattle grazing small grain pastures in Kansas, Oklahoma and Texas number 1.6 million head, which was 35,000 fewer (-2.2%) than the same time last year.

2025-02-02T14:00:44-06:00

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