Cattle Rallying on Cash Strength

Live cattle futures are trading with $2.50 to $4.50 gains across most contracts at midday. Cash trade picked up on Thursday with $230 trade in NE and KS reported. Feeder cattle futures are up $5 to $5.70 on Thursday. The CME Feeder Cattle Index was back down 47 cents to $344.03 on December 9. 

Export sales data showed just 3,863 MT of beef sold for 2025 in the  week of 11/13, with 2,922 MT for 2026 delivery. Combines sales of 6.785 were the lowest since August. Shipments were a 15-week high at 13,907 MT.

September beef exports totaled 180.25 million lbs according to Census data converted to a carcass basis, which was the lowest total for that month since 2015 and the lowest for any month since February 2016. Imports (not converted to a carcass basis) totaled 139,656.8 MT, which was slightly below the same month last year and a 5% drop from August. 

USDA Wholesale Boxed Beef prices were mixed in the Thursday morning report, with the Chc/Sel spread widening to $13.29. Choice boxes were down 42 cents to $358.94, while Select was 77 cents higher at $345.65. USDA federally inspected cattle slaughter was estimated at 123,000 head for Wednesday, with the weekly total at 361,000. That was 7,000 head above last week and 2,256 head shy of the same week last year. 

Dec 25 Live Cattle  are at $231.250, up $4.450,

Feb 26 Live Cattle  are at $231.600, up $3.075,

Apr 26 Live Cattle  are at $231.025, up $2.650,

Jan 26 Feeder Cattle  are at $344.075, up $5.700

Mar 26 Feeder Cattle  are at $338.100, up $5.275

Apr 26 Feeder Cattle  are at $336.925, up $5.025