Live cattle futures saw gains at the Monday close, with contracts up 62 cents to $1.02. Cash trade was stronger last week, as most of the country was $230. A few sales in the north reached $234. Feeder cattle futures were higher by the final bell on Monday, with gains of 55 to 85 cents in the front months. The CME Feeder Cattle Index was up 60 cents to $347.37 on December 12. The weekly OKC feeder cattle auction shows 8,500 head for sale, which is above the week prior. Feeders were $4-8 higher on thee steers and steady to up $3 for heifers. Calves were $5-10 lower for steers and down $10-20 on heifers.

Commitment of Traders data for the week ending on November 25 showed managed money trimming 4,420 contracts from their net long to 92,911 contracts, the smallest since October 2024. In feeder cattle futures and options, specs were cutting back their net long by 1,382 contracts to 16,048 contracts.

Beef export sales totaled 17,148 MT in the week that ended on 11/20 for 2025, which was a 7-week high for bookings, with another 5,398 MT for 2026. Shipments were the largest since January at 19,789 MT.

USDA Wholesale Boxed Beef prices were higher in the Monday afternoon report, with the Chc/Sel spread narrowing to $12.16. Choice boxes were up $2.02 to $359.46, while Select was $3.08 higher at $347.30. USDA federally inspected cattle slaughter was estimated at 110,000 head on Monday. That was 5,000 head below last Monday and 6,934 head shy of the same Monday last year. 

Dec 25 Live Cattle  closed at $230.825, up $1.025,

Feb 26 Live Cattle  closed at $230.550, up $1.000,

Apr 26 Live Cattle  closed at $230.025, up $0.625,

Jan 26 Feeder Cattle  closed at $339.925, up $0.825,

Mar 26 Feeder Cattle  closed at $334.850, up $0.775,

Apr 26 Feeder Cattle  closed at $333.775, up $0.550,