Cattle Current Podcast—April 20, 2026

Cattle futures closed lower for a third consecutive session on Friday, but off session lows. Part of the early pressure was likely tied to some worries about the Secretary of Agriculture announcing a timetable for the U.S. border reopening during scheduled remarks in Texas, but she made no mention. Friday’s Cattle on Feed report (see below) could add more optimism when next week begins.

Live Cattle futures closed an average of 48¢ lower. Feeder Cattle futures closed an average of $2.13 lower.

Week to week on Friday, Live Cattle futures closed an average of $2.12 lower. Feeder Cattle futures closed an average of $6.31 lower.

Negotiated cash fed cattle trade was moderate on good demand in all major cattle feeding regions through Friday afternoon, according to the Agricultural Marketing Service.

For the week, FOB live prices were mainly $248/cwt., which was mostly $2 higher in the Texas Panhandle, unevenly steady in Kansas, steady to $1 lower in Nebraska and steady in the western Corn Belt. Dressed delivered prices were $388, which was steady in the western Corn Belt and steady to $1 lower in Nebraska.

Choice boxed beef cutout value was 51¢ lower Friday afternoon at $381.06/cwt. Select was $1.88 lower at $376.60. Week to week on Friday, Choice boxed beef cutout value was 16¢ higher and Select was $4.74 lower.

Estimated total cattle slaughter last week of 514,000 head was 2,000 head more than the previous week but 64,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 8.1 million head was 915,000 head fewer (-10.2%) the same time last year. Year-to-date estimated beef production of 7.3 billion pounds was 601.7 million pounds less (-7.7%).

Grain and Soybean futures were pressured early Friday by sharply lower Crude Oil prices related to the opening of the Strait of Hormuz. By the end of the session, though, futures were mixed.

Kansas City HRW Wheat futures closed mostly 3¢ to 6¢ lower with likely profit taking. Corn futures were mostly fractionally mixed through Jly ’27. Soybean futures were mostly 1¢ to 4¢ higher.