Cattle Current Podcast—July 27, 2026

Cattle futures extended gains Friday, clawing back some of the previous weeks’ steep losses with hopes the near bottom has been established. As this week begins, traders will be considering the monthly Cattle on Feed and semi-annul Cattle inventory reports published after markets closed on Friday, as well as the announced phased reopening of the U.S. border to Mexican feeder cattle imports (see below).

Live Cattle futures closed an average of $1.07 higher. Feeder Cattle futures closed an average of $1.97 higher. Week to week on Friday, Live Cattle futures closed an average of $2.12 higher, and Feeder Cattle futures were an average of $3.70 higher, except for 62¢ lower in spot Aug.

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

For the week, FOB live prices were $230/cwt. in the North, which was $10 lower in Nebraska and $10-$15 lower in the western Corn Belt. Dressed delivered prices were $365, which was mostly $15 lower in Nebraska and $5-$20 lower in the western Corn Belt. Although too few to trend, there were some FOB live trades in Kansas at $230-$231; prices there the previous week were mostly $237-$238.

Choice boxed beef cutout value was $1.63 lower Friday afternoon at $361.24. Select was $2.04 lower at $346.71. Week to week on Friday, Choice was $5.57 lower and Select was $8.58 lower.

Estimated total cattle slaughter last week was 528,000 head, which was 3,000 more than the previous week but 26,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 15.4 million head was 1.4 million head fewer (-8.3%) than the same week last year. Estimated year-to-date beef production of 13.7 billion pounds was 837.1 million pounds less (-5.8%).

Grain and Soybean futures closed mixed on Friday.

Soybean futures closed 4¢ to 10¢ higher through Jly ’27 and then mostly unchanged to fractionally mixed, supported by China purchases.

Kansas City HRW Wheat futures closed 10¢ to 14¢ lower through Dec ’27 and then mostly 7¢ lower on rumors about a deal to open export shipments through the Black Sea.

Corn futures closed mostly fractionally lower to 1¢ lower, pressured by Wheat. However, they were an average of 17’5¢ higher through the front six contracts, week to week on Friday.