If you would like to receive more information on the commodity markets, please use the link to join our email list - SIgn Up Now
For those interested I hold a weekly livestock webinar on Tuesdays. My next webinar will be Tuesday, April 13, 2026, at 3:15 pm. If you cannot attend live a recording will be sent to your email upon completion of the webinar.
Cattle futures started the week in a strong position with June Live Cattle establishing a new all-time high for the lead contract on the continuous chart at 248.45 and May Feeder Cattle making a new high for the recent up move at 372.625. Price pulled back after making these highs and consolidated Tuesday through Thursday as the fat cattle cash markets were quiet with minimal trading taking place at last week’s highs and feeder cattle markets stabilized at lower money after ending last week with higher money. Traders were waiting for cash to dictate price after leading cash higher last week. Uncertainty took over traders’ perceptions after making the new highs even as outside markets worked to a positive outcome for cattle markets with Equities rebounding and trading higher while Crude Oil prices collapsed after the President agreed to a cease fire with Iran. With these markets allowing a rosier outlook for cattle prices, traders wanted more proof before pressing the issue with higher prices. The packer was incredibly quiet during the week, hoping for some downward futures movement after making the new highs. They were reluctant to participate as the cutout price continued to drift and dip lower. With the cash market leaping higher last week to near all-time highs and the cutouts nowhere near their highs, hope was the packer word for the week. Fortunately for the producer, packer hopes were dashed. Emboldened by last week’s surge in cash prices, the producers weren’t ready to give in and waited patiently for the packer to cave. And cave they did. Cash prices set a new all-time high trade with a 250.00 trade for live cattle. Cattle hasn’t traded on a dressed basis as of Friday afternoon. With cash trading at the new all-time high, it set futures markets on fire. June cattle set another new all-time high for the lead contract at 249.95. The spot (April) month broke the 250.00 barrier for futures, reaching a new all-time high price for the spot contract with its high at 252.25 and a new all-time high settlement at 251.775. This implies higher price expectations going forward for cattle. June Cattle made its low for the session at 247.15. Its settlement was at 249.20 and is a new all-time high settlement for the lead contract. May Feeder Cattle broke above its middle week trading range and topped the Monday high, making the session high at 373.10. This new high is still below the February 4th high for the lead contract at 373.60 as futures are trading at a premium to the Feeder Index and traders were a little more careful as a result. It made the Friday low at 370.175 and settled at 372.35. Feeders did end up on the upside of a trendline break which implies potentially higher prices. The rising cash prices and the weaker cutout prices saw the packer pull back hard on slaughter for the week. It looks like a minimal amount of cattle traded which potentially could leave the packer short-bought. We are past the Easter Holiday and moving ever closer to grilling season. We have the 250th anniversary of the birth of our country coming up along with the spring summer beef eating holidays. With the war potentially winding down, we could see enthusiasm build as we celebrate these occasions. What will the packer do? We’ll see!... If Feeder Cattle can hold settlement, it could test resistance at 375.075. Resistance then comes in at 376.75. A failure from settlement has support at 369.375 and then 365.675. If Live Cattle can hold settlement, it could test pivot resistance at 250.30. R2 is at 251.55 and R3 is at 253.10. A failure from settlement could see price test support at 248.30. Support then comes in at 246.975.
The Feeder Cattle Index released Friday jumped 2.57 and is at 366.67 as of 04/09/2026 settlement.
Boxed beef cutouts were lower as choice cutouts decreased 0.19 to 380.90 and select decreased 0.23 to 381.34. The choice/ select spread widened and is at -0.44 and the load count was 84.
Friday’s estimated slaughter is 83,000, which is below last week’s 96,000 and last year’s 94,976. Saturday slaughter is expected to be 4,000, which is below last week’s 8,000 and last year’s 5,046. The estimated slaughter for the week (so far) is 512,000, which is below last week’s 533,000 and last year’s 563,972.
The USDA report LM_Ct131 states Thus far Friday trade was limited on moderate demand in Nebraska and the Western Cornbelt with a few early purchases at 250.00 however not enough for an adequate market test. The last established market test in Nebraska was last week with live purchases at mostly 245.00 and dressed purchases at 385.00. The last established market test in the Western Cornbelt was last week with live purchases at mostly 245.00 and dressed purchases at mostly 385.00. Trade was inactive on moderate demand in the Southern Plains. The last established market test in the Texas Panhandle was Wednesday with live purchases at mostly 246.00. The last established market test in Kansas was last week with live purchases from 245.00-246.00, mostly 246.00.
The USDA is indicating cash trades for live cattle from 244.00 – 250.00 and nothing on a dressed basis (so far) for the week.
**Call me for a free consultation for a marketing plan regarding your livestock needs.**
Ben DiCostanzo
Senior Livestock Analyst
Walsh Trading, Inc.
Direct: 312.957.4163
888.391.7894
Fax: 312.256.0109
Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.
Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. The information contained on this site is the opinion of the writer or was obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in market prices. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. (“WTI”) shall not be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.
/Micron%20Technology%20Inc_logo%20and%20website-by%20Mojahid%20Mottakin%20via%20Shutterstock.jpg)
/Super%20Micro%20Computer%20Inc%20HQ%20photo-by%20Tada%20Images%20via%20Shutterstock.jpg)