Live cattle futures experienced significant declines on Thursday, with prices falling between $3.35 and $5.95. Cash cattle trades were limited, showing a few sales at $260 in Kansas and $265 in Northern markets. The Fed Cattle Exchange auction had no sales for the 652 head offered. Feeder cattle futures also dropped, with the CME Feeder Cattle Index down $1.72 to $370.72 as of May 20.
The USDA is set to release important Cattle on Feed data on Friday, forecasting a 3.4% increase in April placements year-over-year and a 9.3% decrease in marketings compared to 2025. The estimated total for May 1 on feed is expected to be 1.6% larger than the previous year. Additionally, the weekly Export Sales report indicated 8,095 MT of beef sold for 2026 for the week ending May 14, with shipments at 12,263 MT, marking the third-lowest of the year.
Wholesale Boxed Beef prices decreased, with Choice boxes at $391.48, down $2.14, and Select at $385.65, down $5.48. USDA’s estimated federally inspected cattle slaughter for Thursday reached 109,000 head, totaling 427,000 for the week, which is up 1,000 from the previous week but down 47,733 from the same week last year.
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