Cattle futures on Monday were mostly able to hold on to the previous session’s strong gains tied to higher cash fed cattle prices and recently stronger wholesale beef values, despite significantly lower outside markets.
Toward the close, Live Cattle futures were an average of 34¢ higher, except for 2¢ lower in spot Apr.
Feeder Cattle futures were an average of 93¢ higher (27¢ higher in spot Mar to $1.60 higher at the back), except for 12¢ lower in Apr.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were steady in the Southern Plains at $197/cwt., $2-$4 higher in the North at $200-$202. Dressed delivered prices were $2-$4 higher in Nebraska at $315-$317 and $3-$7 higher in the western Corn Belt was $315-$320.
The five-area, weighted average direct FOB live steer price was $2.63 higher week to week at $200.28/cwt. The weighted average dressed delivered steer price was $3.51 higher at $316.43.
Choice boxed beef cutout value was $2.68 higher Monday afternoon at $317.58/cwt. Select was $1.15 higher at $306.95.
Nearby Corn and Kansas City Wheat futures were higher Monday with likely positioning ahead of Tuesday’s monthly World Agricultural Supply and Demand Estimates.
Toward the close and through Sep ’25 contracts, Corn futures were 1¢ to 3¢ higher. Kansas City Wheat futures mostly 14¢ higher, also supported by domestic weather concerns. However, Soybean futures were mostly 8¢ to 11¢ lower with pressure including South American harvest pressure.
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Major U.S. financial indices plunged lower Monday amid whirling chatter about U.S. tariffs paving the path to domestic economic recession.
The Dow Jones Industrial Average closed 890 points lower. The S&P 500 closed 155 points lower. The NASDAQ was down 727 points.
Through midafternoon, West Texas Intermediate Crude Oil futures on the CME were $1.14 to $1.24 lower through the front six contracts.
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Cattle markets are expected to continue strong, barring major macroeconomic disruption, such as domestic recession, says Derrell Peel, Extension livestock marketing specialist at Oklahoma State University, in his weekly market comments.
At the same time, Peel expects uncertainty and volatility driven by external forces to continue impacting cattle markets.
“Cattle prices continue to generally grind higher amid a whirlwind of political activities and rhetoric that have buffeted markets at all levels,” Peel says. “Markets have been whipsawed with on-again, off-again political announcements that create debilitating uncertainty in equity, futures and cash markets with negative impacts on producers, consumers and the complex supply chains of agricultural and food markets.”