CME cattle futures little changed, feeder cattle firm after USDA report
CME live cattle futures were flat and feeder cattle rose. The USDA report showed September feedlot placements at their lowest since 1996, and packer margins turned negative.
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what happened
CME live cattle futures were mixed on Friday, while feeder cattle futures edged higher. The December live cattle contract ended unchanged at 231.125 cents per pound, and November feeders gained 1.200 cents to 348.125 cents per pound. Traders stayed cautious ahead of the weekend, and after the session the USDA published its monthly cattle on feed report.
According to the USDA, cattle on feed for slaughter as of October 1 stood at 100% of last year's level, slightly below the Reuters poll estimate of 100.3%. September feedlot placements fell to 88% of last year against an expected 92.6%, the lowest September figure since 1996. Midday wholesale choice boxed beef dropped to $365.79 per cwt, while select cuts rose to $352.69.
why it matters
Beef packers moved into the red by the end of the week, losing an average of $4.10 per head against profits of $32.15 on Thursday and $70.90 a week earlier, according to HedgersEdge. Weak placements point to lower future supply, which matters for cattle and meat processing market participants.
market impact
Cattle and beef markets: weak placements and packer losses pressure processing margins
tags
instruments
sources
- CME live cattle futures unchanged, feeder cattle futures firm — Reuters, 23 October 2026 at 22:32 UTC
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