It was a successful day for the livestock complex as all three of the markets closed higher. Bids were offered throughout the day in the cash cattle market, but no new trade developed.
LIVE CATTLE:
The cash cattle market may not have been able to do much more ahead of the week’s end, but considering that the boxed beef prices closed higher and that the futures complex closed higher too, it was a positive day for the complex. October live cattle closed $2.72 higher at $239.65, December live cattle closed $2.17 higher at $240.77 and February live cattle closed $2.30 higher at $242.25. Traders were willing to advance the complex but didn’t believe that the market possessed enough power to successfully challenge the market’s resistance at $240. If fundamental support remains plentiful next week, there’s a chance that traders could elect to push beyond the market’s current resistance, but then again, in a wild market like this, anything could truly happen. Currently, there are still bids being offered in Kansas at $242, and in Nebraska at $245 live and $385 dressed, but no new trade has developed throughout the day. So far this week Southern live cattle have traded at mostly $242 ($2.00 higher than last week’s weighted average) and Northern dressed cattle have traded at mostly $385 ($1.00 lower than last week’s weighted average).
Friday’s slaughter is estimated at 101,000 head, 1,000 head more than a week ago but 22,000 head less than a year ago. Saturday’s slaughter is projected to be around 2,000 head. The week’s total slaughter is estimated to be 565,000 head, 14,000 head more than a week ago but 51,000 head less than a year ago.
Boxed beef prices closed higher: choice up $1.00 ($415.41) and select up $4.16 ($390.00) with a movement of 109 loads (81.57 loads of choice, 10.31 loads of select, 6.43 loads of trim and 10.35 loads of ground beef).
MONDAY’S CATTLE CALL:
Steady/somewhat higher. Much of next week’s trade will depend on how many cattle packers were able to get bought this week and how boxed beef prices trade, as that plays a lot into the market’s psychological realm, but even so, packers will need to stay fairly engaged in the marketplace simply because they don’t have a plethora of cattle committed to them.
FEEDER CATTLE:
The feeder cattle contracts also closed higher, as traders were more than willing to advance the contracts as they were no longer up against the market’s resistance threshold. And as demand remains red-hot in the countryside, traders had more than enough support to justify the contracts’ higher move. September feeder closed $2.97 higher at $364.77, October feeders closed $2.95 higher at $364.47 and November feeders closed $3.57 higher at $363.60. The Oklahoma Weekly Cattle Auction Summary shared that compared to last week, feeder steers over 800 pounds sold $2.00 to $8.00 higher, but steers under 800 pounds traded $10.00 to $13.00 higher. Steer calves sold $1.00 to $7.00 higher. Feeder heifers and heifer calves traded steady to $5.00 higher. Feeder cattle supply over 600 pounds was 60%. The CME feeder cattle index 8/28/2025: up $0.15, $365.38.
What are cattle Packer margins currently?