Cattle Correct Lower, as Trader Position Ahead of Cattle on Feed Report

Live cattle futures fell back ahead of the Friday report, as contracts were steady to 77 cents in the red at the close. Cash trade has yet to be reported this week. The Thursday Fed Cattle Exchange online auction showed no sales on the 1,884 head offered, with a few bids of $224. Feeder cattle futures were down $1.50 to $2.05 on the day, as traders squared up ahead of the Friday Cattle on Feed report.  The CME Feeder Cattle Index was back down $1.29 on October 19 to $342.16. 

The monthly NASS Cattle on Feed report will be released on Friday, with traders surveyed by Reuters looking for September placements to be down 7.4% from a year ago and marketings down 7%. October 1 on feed is expected to be up 0.3% from last year. 

USDA Export Sales data showed 18,476 MT of beef sold in the week ending on 10/15 for 2026. South Korea was the top buyer of 8,300 MT, with 3,800 MT sold to Japan. Shipments were 11,026 MT in that week a 5-week low. Of that total, 3,000 MT was headed to South Korea, with 2,600 MT to Japan.

Wholesale Boxed Beef prices were lower in the Thursday PM report, with the Chc/Sel at $15.90. Choice boxes were down $3.12 to $369.47, with Select back down $4.93 to $350.41. USDA estimated Federally inspected cattle slaughter for Thursday at 103,000 head, as the week to date total is 430,000 head. That is not even with the week prior and 17,054 head below the same week last year. 

Oct 26 Live Cattle  closed at $229.750, down $0.675,

Dec 26 Live Cattle  closed at $231.125, unch,

Feb 27 Live Cattle  closed at $233.450, down $0.375,

Oct 26 Feeder Cattle  closed at $346.100, down $1.725,

Nov 26 Feeder Cattle  closed at $346.925, down $1.900,

Jan 27 Feeder Cattle  closed at $344.000, down $1.825,