Today’s Livestock Market Update

Some light cash cattle trade did develop, and prices were mostly steady in the South to $1.00 lower in the North.

LIVE CATTLE:

After a large rally over the last three weeks, with the spot June live cattle contract rallying $12.82 as of this afternoon’s close in the last 15 days, the market is at a tipping point. Either trades need to see more fundamental support to justify allowing the contracts to trade higher, or there’s a chance that the top is in for this stint of the bull run. It’s too hard to say which is more likely at this point, and as always, time will need to play out, and our answer will eventually unveil itself. April live cattle closed $2.30 lower at $250.30, June live cattle closed $3.45 lower at $247.62 and August live cattle closed $3.05 lower at $243.07. A few deals have been reported sold in parts of the South at $248, about steady with last week’s weighted averages, and some dressed sales in parts of Nebraska have been marked at $388, nearly $1 lower than the previous week’s weighted average. Thursday’s slaughter is estimated at 104,000 head, 1,000 head less than a week ago and 16,000 head less than a year ago.

Boxed beef prices closed lower: choice down $0.41 ($381.57) and select down $0.10 ($378.48) with a movement of 104 loads (73.48 loads of choice, 8.76 loads of select, 9.87 loads of trim and 12.21 loads of ground beef).

FRIDAY’S CATTLE CALL:

Steady. Given that some light trade has now developed, likely, prices will mostly hold steady with the week’s trend, but with there only being light test traded so far, there’s still a chance that prices could improve on Friday after the Cattle on Feed report.

FEEDER CATTLE:

The feeder cattle complex followed in the same direction as the live cattle complex, seeming uncomfortable to advance its own contracts without the support of the live cattle market. April feeder cattle closed $0.42 lower at $373.07, May feeders closed $3.85 lower at $367.10 and August feeders closed $3.67 lower at $368.52. At the Clovis Livestock Auction in Clovis, New Mexico, compared to last week, steer calves sold unevenly in large numbers, with 550-to-600-pound steers traded $15.00 to $18.00 higher. Feeder steers traded steady to $15.00 lower. Heifer calves weighing 450 to 500 pounds sold $18.00 to $20.00 higher. Feeder heifers weighing 700 to 750 pounds sold $10.00 higher. Slaughter cows sold steady to $5.00 higher, but slaughter bulls traded $3.00 lower. Feeder cattle supply over 600 pounds was 37%. The CME feeder cattle index 4/15/2026: up $3.63, $379.09.