The cattle market concluded the trading week on a downbeat note, with live cattle and feeder cattle futures extending losses through Friday. This downward trend was mirrored in cash trade, which saw a notable drop compared to the previous week, signaling broader market pressures.
Futures Market Registers Broad Declines
Live cattle futures experienced losses ranging from 80 cents to $1.80 at midday on Friday, July 12, 2026. Specific contract performances underscored this trend:
- August 2026 Live Cattle settled at $234.450, down $0.800.
- October 2026 Live Cattle traded at $229.925, marking a $1.675 decline.
- December 2026 Live Cattle closed at $229.750, down $1.800.
Feeder cattle futures also faced significant pressure, trading with losses between $2.50 and $2.75 on Friday. Detailed contract figures included:
- August 2026 Feeder Cattle at $353.475, down $2.675.
- September 2026 Feeder Cattle at $350.250, reflecting a $2.750 loss.
- October 2026 Feeder Cattle at $346.825, down $2.500.
In a contrasting data point, the CME Feeder Cattle Index had shown an increase of $3.70 on July 8, reaching $374.45, indicating some volatility in the underlying index despite the futures market’s Friday downturn.
Cash Trade and Auction Results Highlight Price Erosion
The cash cattle market commenced trading on Thursday with prices ranging from $247 to $248 across the country. This represented a substantial $7 to $8 drop from the previous week’s levels, indicating a weakening in immediate demand or an increase in available supply.
Further insights into cash market dynamics came from the Friday Fed Cattle Exchange online auction. The auction reported sales between $248 and $248.50 for 536 head out of a total of 1,356 head offered. While slightly above Thursday’s initial cash trade, these figures remained within the range of the week’s lower price points, reinforcing the overall decline.
Wholesale Beef Prices Show Resilience Amidst Slaughter Drop
Despite the downward pressure on live and feeder cattle markets, wholesale Boxed Beef prices presented a more resilient picture in the Friday morning report. Choice boxes were up $3.09, settling at $383.90, while Select boxes saw a more significant increase of $6.16, reaching $369.63. The Choice/Select spread stood at $14.25, indicating a healthy premium for higher-grade beef.
Concurrently, USDA’s federally inspected cattle slaughter for Thursday was estimated at 112,000 head. This contributed to a weekly total of 430,000 head, which is 3,000 head fewer than the previous week and a substantial 35,480 head below the same week last year. The reduced slaughter volume could suggest tighter supply in the processing sector, potentially supporting wholesale beef prices even as live cattle values decline.
The week’s trading activity for cattle markets was largely characterized by a retreat in both futures and cash prices. While wholesale beef demonstrated some upward momentum and slaughter rates indicated tighter supply, the immediate sentiment in the live and feeder cattle sectors pointed towards continued downward adjustments, reflecting a challenging environment for producers and traders as the market closed on Friday.
