Cattle Current Podcast—March 5, 2025

Cattle futures steadied Tuesday after initial pressure tied to new U.S. tariffs and worries about how trading partners will respond.

Dan Halstrom, president and CEO of the U.S. Meat Export Federation says, “We are reviewing the retaliatory measures announced by Canada and China and are watching for details on the response from Mexico.

He explains, “These three markets accounted for $8.4 billion in U.S. red meat exports last year, including nearly $4 billion to Mexico. While the United States is the primary supplier of pork and beef to Mexico, Halstrom says, U.S. red meat has already been facing heightened competition in this critical market.”

Last year U.S. beef exports equated to more than $415 per fed steer or heifer slaughtered and pork exports equated to more than $66 per head slaughtered. These exports, a large share of which are underutilized cuts and variety meat, help producers maximize the value of every animal produced and allow U.S. consumers to enjoy more of the cuts they prefer.   

Toward the close, Live Cattle futures were an average of $1.28 higher. Feeder Cattle futures were an average of 43¢ higher, except for an average of 23¢ lower at either end of the board.

Negotiated cash fed cattle trade was limited on light demand in Kansas through Tuesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some early live FOB trades t $195/cwt.

Elsewhere, trade was at a standstill.

Last week, FOB live prices were $197 in the Southern Plains and $198 in the North. Dressed delivered prices were $313.

Choice boxed beef cutout value was 92¢ higher Tuesday afternoon at $314.85/cwt. Select was $1.61 higher at $304.02.

Grain and Soybean futures were lower again Tuesday, but off session lows, in defense against U.S. tariffs on Mexico, Canada and China.

Toward the close and through Sep ’25 contracts, Corn futures were 3¢ to 4¢ lower. Kansas City Wheat futures were 9¢ to 12¢ lower. Soybean futures were 9¢ to 13¢ lower.