Livestock markets posted aggressive end of the week gains in cattle markets, with nearby feeder cattle futures leading the surge higher, gaining over $4 per cwt in all remaining 2025 contract months. This helped to solidify follow-through buyer support in live cattle markets with August futures posting a $4.10 per cwt rally. The ability to build off of support levels set earlier this week is helping to create additional market optimism through the entire cattle market.
From Friday to Friday, livestock futures scored the following changes: June live cattle up $1.72, August live cattle up $3.48; August feeder cattle up $5.45, September feeder cattle up $5.68; July lean hogs up $0.47, August lean hogs off $2.18; July pork cutout up $0.30, August pork cutout remained unchanged.
LIVE CATTLE:
Live cattle futures surged aggressively higher Friday as active trade swept through the complex, helping to bring traders back to the market who have been cautiously watching from the sidelines since last week’s market tumble. Nearby contracts quickly broke above the 40-day moving average during morning trade, which helped spark additional technical support through the entire complex. Combined with still aggressive boxed beef support and expectations that beef demand will continue to remain strong over the near future, futures trade regained recent market losses. Actively traded August contracts are still nearly $5 per cwt below market highs seen early in the month, but the ability to keep prices above $210 per cwt is helping to create additional optimism. Cash cattle markets still remain sluggish Friday afternoon, with light trade reported in parts of the North at $368 dressed, steady with Thursday’s transactions, but $9 lower than last week’s weighted average basis in Nebraska. The South remains rather quiet following Thursday’s live sales at $224 to $225, $4 to $5 lower than the prior week’s weighted averages. It looks like business is essentially done for the week. June live cattle closed $3.05 higher at $224.75, August live cattle closed $4.10 higher at $213.30 and October live cattle closed $3.48 higher at $209.825. Friday’s slaughter is estimated at 105,000 head, 3,000 head less than a week ago and 14,000 head less than a year ago.
Boxed beef prices closed higher: choice up $1.46 ($396.51) and select up $3.21 ($382.95) with a movement of 80.28 loads (48.46 loads of choice, 10.52 loads of select, 13.36 loads of trim and 7.94 loads of ground beef).
MONDAY’S CATTLE CALL:
Steady. Monday’s cash market activity is expected to remain muted, but the support in beef values and futures support will likely cause cattle feeders to price cattle higher next week. Due to the Fourth of July holiday next Friday, next week’s cash sales are likely to be seen earlier in the week than usual.
FEEDER CATTLE:
Feeder cattle buying Friday morning set the tone for the aggressive market support seen in all cattle trade. August futures led the complex higher with gains of $4.60 per cwt, moving prices to $307.90 per cwt in both August and September contract months. Although prices are still well below market highs seen in early June, the ability to limit losses over this last week helped to stimulate additional technical support through the entire complex. Nearby feeder cattle futures held above the 40-day moving average, this latest round of buying has helped to secure this benchmark, creating additional confidence heading into the end of the month and the holiday-shortened trading week. August feeders closed $4.60 higher at $307.90, September feeders closed $4.53 higher at $307.9 and October feeders closed $4.30 higher at $305.725. The CME Feeder Cattle Index for June 26: up $0.58, $311.97.
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