Cattle Collapse Continues Ahead of Cattle on Feed Report

Live cattle futures closed Thursday with losses of 95 cents to $2.025 across the board. There were $192 BidTheGrid™ sales reported on Thursday’s Central Stockyard Fed Cattle Exchange, with other bids running $188-191.50. Beyond that there have been bids reported in the $191 range of the South and $195 in the North. Feeder cattle futures were down $2.52 to $3.20 on the session. The CME Feeder Cattle Index was down 77 cents from the day prior at $262.23 on December 18. 

Weekly Export Sales data showed beef bookings tallied at just 7,151 MT for 2024 shipment, with 4,432 MT for 2025. The combined sales were 11,583 MT, a 3-week low. Shipments were at 15,913 MT, a 4-week high. South Korea was the top destination of 4,400 MT, with 3,200 MT to Japan.

USDA’s monthly Cattle on Feed report will be released on Friday, with most expecting to see November placements down 5.1% from last year and marketing 1.8% below a year ago. December 1 on feed inventory is expected to be down 0.3% vs. 2023.

USDA wholesale Boxed Beef prices were again mixed in the Thursday afternoon report. Choice boxes were up $5.85 to $320.69/cwt, with Select $1.44 lower @ $284.11. USDA estimated Thursday’s federally inspected cattle slaughter at 121,000 head, taking the week to date total to 485,000 head. That is down 4,000 head from the previous week and 10,201 from the same week last year. 

Dec 24 Live Cattle  closed at $190.350, down $0.950,

Feb 25 Live Cattle  closed at $186.550, down $1.775,

Apr 25 Live Cattle  closed at $188.600, down $1.875,

Jan 25 Feeder Cattle  closed at $254.475, down $2.525,

Mar 25 Feeder Cattle  closed at $254.575, down $2.800,

Apr 25 Feeder Cattle  closed at $255.450, down $2.950,