Live cattle futures were down 97 cents to $1.90 on Thursday. There were 20 deliveries retendered at 1 cent on Thursday. Cash trade got kicked off on Thursday, with a few early sales at $228 across the country and dressed sales have been $356-358. The Thursday Fed Cattle Exchange online auction showed no sales on the 1,708 head listed and bids of $225-226.50 live and $350.50 dressed. Feeder cattle futures were down $1.25 to $1.90 at the Thursday close. The CME feeder cattle index from December 17 was up 26 cents from the day prior at $350.05.

Weekly Export Sales data showed just 1,908 MT of beef sold for 2025 delivery in the week ending on 11/27, with 12,087 MT for 2026. Export shipments were 10,869 MT during that week, a 3-week low.

The December Cattle on Feed report will be released on Friday, with traders looking for November placements to be down 8% from last year and marketings with a 11.3% drop. December 1 on feed is expected to be 1.6% below last year.

USDA Wholesale Boxed Beef prices were mixed in the Thursday afternoon report, with the Chc/Sel spread widening to $13.31. Choice boxes were up $1.19 to $357.28, while Select was $2.46 lower at $343.97. USDA federally inspected cattle slaughter was estimated at 123,000 head on Thursday, with the weekly total at 472,000 head. That was 12,000 head below last week and 11,643 head shy of the same week last year.

Dec 25 Live Cattle  closed at $228.425, down $1.875,

Feb 26 Live Cattle  closed at $228.400, down $1.150,

Apr 26 Live Cattle  closed at $228.150, down $0.975,

Jan 26 Feeder Cattle  closed at $340.275, down $1.250,

Mar 26 Feeder Cattle  closed at $334.600, down $1.725,

Apr 26 Feeder Cattle  closed at $333.175, down $1.850,

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