The livestock markets at the Chicago Mercantile Exchange saw a mixed performance as cattle futures remained mostly lower, while feeder cattle saw gains ahead of the week’s direct cash business.
Live cattle futures saw minimal movement, with February live cattle unchanged at $197.40, while April contracts dipped slightly by $0.05 to close at $198.15. Meanwhile, feeder cattle found some support, closing higher due to a mostly lower corn market. March feeder cattle were up $0.30 at $268.20, while April feeder cattle gained $0.22, settling at $268.55.
Despite these fluctuations in futures, direct cash cattle trade remained quiet. There were no bids or asking prices seen.
At Missouri’s Callaway Livestock Center, the market saw increased demand, especially for steers under 450 pounds and feeder heifers. Steer calves under 450 pounds showed a higher undertone, while steers between 450 and 750 pounds saw increases of $10 to $20, with some prices jumping by $25 in certain cases. Yearlings over 750 pounds traded with a higher undertone as well. Feeder heifers also saw substantial gains, with those in the 400 to 600-pound range increasing by $15 to $30, and heifers weighing 600 to 650 pounds rising by $8 to $15. Heifers over 650 pounds also saw a higher undertone. The USDA reported strong buyer interest, with a large portion of the offering meeting a very active market.
Feeder supply data showed that 63% of the steers offered were Medium and Large 1 grade, and 56% of the offerings were over 600 pounds. Prices for these ranged from $330 to $360 for feeder steers weighing 553 to 597 pounds, while 929 to 944-pound steers brought $258 to $260.25. Medium and Large 1 feeder heifers weighing 557 to 584 pounds ranged from $307 to $339, and heifers weighing 600 to 641 pounds sold between $285 and $305.50.
Boxed beef closed mixed, reflecting light to moderate demand. Choice beef dropped $0.37 to $332.98, while Select beef gained $1.14, closing at $318.71. The Choice/Select spread now stands at $14.27. Cattle slaughter estimates showed a slight dip of 1,000 head from the previous week, totaling 125,000 head, though the number is up about 17,000 from the previous year.
Meanwhile, lean hog futures closed higher, bolstered by cash and wholesale support. February lean hogs gained $0.45, finishing at $83.62, while April contracts rose $1.20 to settle at $90.50.
Cash hog prices surged, with processors bidding more aggressively to secure the needed numbers. Strong international demand for U.S. pork has provided some price support. The USDA maintains a positive outlook for pork prices throughout much of 2025, contingent on sustained strong demand. The availability of market-ready hogs and hog weights remains a key factor being monitored by the industry.
At the National Daily Direct, barrows and gilts saw an increase of $1.00, with a base range of $73 to $81 and a weighted average of $80.14. The Iowa/Minnesota region reported a $1.05 increase, with a weighted average of $80.25, while the Western Corn Belt posted a $0.94 rise, also averaging $80.14. Prices in the Eastern Corn Belt were not available due to confidentiality.
Midwest butcher hog prices were $3 higher, bringing the price to $58. At Illinois markets, slaughter sow prices rose $2 with moderate demand for moderate offerings, ranging between $37 and $40. Barrows and gilts were steady with moderate demand, ranging from $46 to $56. Boar prices ranged from $20 to $30 and $15 to $25.
Pork values remained steady, inching up by $0.01 to $90.21, with loins seeing an uptick while other primals saw steady to lower prices. The estimated hog slaughter for the day was 477,000 head, down 10,000 from the previous week but up nearly 28,000 from the year prior.
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