The 40-per cent tariffs were removed by the White House to bring down beef prices and should result in Brazilian beef moving into the U.S. once again. Talk that the U.S. government was considering reopening the U.S./Mexico border to Mexican cattle once again also circulated the market.

The February live cattle contract lost 0.625 cents per pound at 214.775 cents. Feeder cattle were down 2.150 cents in the January contract at 314.225 cents per pound.

The U.S. Department of Agriculture reported wholesale boxed beef prices were slightly firmer, with choice boxes up five cents at $371.28 per hundredweight and select boxes up $0.63 at $354.18/cwt.

The U.S. Department of Agriculture released updated cattle on feed data after the markets closed. Cattle and calves on feed as of Nov. 1, 2025, were down two per cent from the same point a year ago, at 11.7 million head. There were 11. 4 million head on feed as of Oct. 1, 2025.

Placements at feedlots in October came in at 2.04 million head, which was down 10 per cent from the same month a year ago.

Lean hog prices were down 1.950 cents per pound in the February contract at 77.725 cents per pound.

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The December live cattle contract lost 1.925 cents per pound at 225.275 cents. Feeder cattle were down 1.675 cents in the January contract at 327.475 cents per pound.

The U.S. Department of Agriculture reported wholesale boxed beef prices were weaker, with choice boxes down $4.77 at $374.45 per hundredweight and select boxes down $0.14 at $359.94/cwt.

The possible reopening of the United States government kept some caution in the futures, as market participants will be watching any data that comes out for any confirmation of the strong consumer beef demand that reportedly contributed to the recent strength in the futures.

Lean hog prices were weaker, with the December contract down 1.725 cents at 80.625 cents per pound. Federally inspected hog slaughter for Tuesday was estimated at 460,000 head by the USDA, taking the weekly total to 954,000 head.

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The December live cattle contract lost 7.250 cents per pound at 220.525 cents. Feeder cattle were down 9.250 cents in the January contract at 319.975 cents per pound.

U.S. Agriculture Secretary Brooke Rollins met with her Mexican counterparts on Tuesday. While the U.S. border remains closed to Mexican cattle for now, Rollins said President Trump was focused on reopening it. Rollins also praised how Mexico was handling the New World Screwworm outbreak in the country — the reason behind the border closure.

The U.S. Department of Agriculture reported wholesale boxed beef prices were mixed, with choice boxes up $0.68 at $378.26 per hundredweight and select boxes down $1.00 at $360.25/cwt.

The ongoing shutdown of the United States government remained a feature in the background, with confusion over payments under SNAP (the Supplemental Nutrition Assistance Program) keeping some caution in the markets.

Lean hog prices were mixed. The December contract was up 0.675 cents at 80.600 cents per pound.

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CME benchmark December live cattle futures were down their daily maximum of 7.250 cents at 233.925 cents per pound. CME November feeder cattle were down their limit of 9.250 cents, at 352.200 cents per pound.

Both markets had tumbled last week and again on Wednesday after U.S. President Donald Trump sought to reduce beef prices.

The Trump administration said on Thursday that it would quadruple the country’s low-tariff imports of Argentine beef.

Traders also noted that Mexico’s agriculture minister will travel to Washington next week with the aim of reaching an agreement on the reopening of the border to Mexican cattle amid an outbreak of the flesh-eating screwworm parasite. The U.S. border has been closed to Mexican cattle imports since May.

“Managed money has a huge net long in the cattle market and has for a while,” said Austin Schroeder, commodity analyst for Brugler Marketing & Management.

“With all the headlines that we’ve got over the last week and a half, I would assume there is just some general risk-off (trade) heading into the weekend. Everybody is wanting out, and the door is only so big,” Schroeder said.

Live hog futures were narrowly mixed, with the December contract up 1.250 cents at 81.900 cents per pound.

— Reporting by Julie Ingwersen

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The December live cattle contract was up by 1.350 cents per pound at 241.175 cents. However, more deferred months were lower. Feeder cattle saw a continuation of Wednesday’s selloff, with the November contract down 2.775 cents at 361.450 cents per pound and January down 3.600 cents at 357.425 cents per pound.

The U.S. announced plans to quadruple imports of beef from Argentina, which would lower domestic beef prices and cut into cattle prices. However, the government also announced measures to support domestic beef production, including making it easier to graze cattle on federally owned land.

The U.S. Department of Agriculture reported wholesale boxed beef prices were higher, with choice boxes up $2.49 at $373.14 per hundredweight and select boxes up $1.13 at $354.74/cwt.

The ongoing shutdown of the United States government will likely delay the publication of monthly cattle on feed data scheduled to come out on Friday. However, market expectations are for a decline in placements on the year.

Lean hog prices fell on increased slaughter numbers coupled with a seasonal slowdown in pork demand. The December contract was down 0.625 cents at 81.775 cents per pound.

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The December live cattle contract lost 5.600 cents per pound on Wednesday, at 239.825 cents. Feeder cattle were down their daily limit of 9.250 cents per pound in most months, with the November contract at 364.225 cents per pound and January at 361.025 cents per pound.

Trump claimed on social media that U.S. ranchers were benefitting from tariffs and urged them to “get their prices down.”

The U.S. Department of Agriculture reported wholesale boxed beef prices were mixed, with choice boxes down $1.28 at $370.65 per hundredweight and select boxes up $1.04 at $353.61/cwt.

The ongoing shutdown of the United States government will likely delay the publication of monthly cattle on feed data scheduled to come out on Friday. However, market expectations are for a decline in placements on the year.

Lean hog prices were lower, with the December contract down 0.875 cents at 82.400 cents per pound.

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The December live cattle contract gained 1.775 cents per pound on Tuesday, at 245.425 cents. The nearby November feeder cattle contract was up 0.800 cents per pound at 373.475 cents per pound, with the January contract up 1.100 cents at 370.275 cents per pound.

The U.S. Department of Agriculture reported wholesale boxed beef prices were mixed, with choice boxes $2.75 higher at $371.93 per hundredweight and select boxes down $0.89 at $352.57/cwt.

Lean hog prices strengthened, with the December contract up 1.200 cents at 83.275 cents per pound.

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Cattle futures posted limit-down losses on Friday following comments from United States President Donald Trump that he would lower beef prices. Trump also said over the weekend that beef purchases from Argentina were a possibility.

The December live cattle contract gained 1.825 cents per pound on Monday, at 243.650 cents.

The feeder cattle market was mixed on the day. The nearby November contract was up 0.975 cents per pound at 372.675 cents per pound. However, the more deferred months were lower, with January down 0.125 cents at 369.175 cents per pound.

The U.S. Department of Agriculture reported wholesale boxed beef prices were up on the day, with choice boxes $2.41 higher at $369.18 per hundredweight and select boxes up $3.19 at $353.46/cwt.

Lean hog prices were mixed, with the December contract down 0.300 cents at 88.950 cents per pound.

Pork production in China was up seven per cent in the third quarter compared to a year ago, at 13.48 million tonnes, according to Chinese government data.

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There was an influx of calves over the past week which resulted in the softer tone to the overall feeder complex. The highs are likely in place for the feeder market. The weaker fed cattle market and softer deferred live cattle futures contributed to the lower bids for all weight categories. Feedlot operators are concerned that margins will be in negative territory for the spring and summer of 2026 so they’re lowering bids for replacements.

At the VJV Ponoka sale, a small package of mixed (exotic) steers off grass with full processing data averaging 1,015 pounds traded for $457/cwt. The TEAM video auction had 55 red heifers with a mean weight of 1,012 pounds off grass valued at $429/cwt fob Picture Butte.

A rancher reported that 45 Angus cross yearling steers off grass averaging 950 pounds sold for $465 in Central Alberta. The Team video auction had a group of 200 black steers with a base weight of 925 pounds on silage ration targeting 2.2 lbs/day selling for $461 fob feedlot for March 15, 2026 delivery. The VJV Dawson Creek market report had Simmental steer calves evaluated at 885 pounds off cows and grass on the full herd health program priced at $489/cwt

The Ste Rose Auction Mart report had a smaller package of black yearling grass fed steers averaging 813 pounds trading for $564/cwt. The Killarney Auction had a small package of Angus steers weighing 785 pounds valued at $587/cwt. In Central Alberta, a smaller package of larger frame, yearling Simmental cross heifers off grass averaging just over 800 pounds apparently moved off farm at $484/cwt.

Northern Livestock Sales at Lloydminster reported that a package of 16 tan steer calves weighing 708 pounds sold for $584/cwt. A farmer in Central Alberta reported that 700-pound Charolais Simmental cross weaned heifer calves traded for $535 at a ring sale.

At the Vermillion Livestock Exchange ring sale, a group of 34 Charolais steers averaging 602 pounds were last bid at $645/cwt; Charolais heifers scaled at 632 pounds reportedly sold for $567/cwt.

The Team Auction Market Video Sale had black steers with a mean weight of 550 pounds with full processing data but no implants trading for $720 fob farm near Elkhorn, Manitoba for delivery February 4, 2026. Northern Livestock Sales at Prince Alberta had a smaller group of Charolais bawling steers scaled at 504 pounds let out of the ring at $735/cwt.

Alberta packers were buying fed cattle on a dressed basis in the range of $508-$516/cwt delivered, down $9-$12 from last week. Using a 60 per cent grading, this equates to a live price of $305-$309/cwt. Wholesale beef choice beef closed at US$368/cwt. This is down $40/cwt from the August high. Beef demand appears to be slowing which is resulting in lower wholesale beef prices and weaker cattle prices.

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The report came out after the markets closed, with placements in August down 10 per cent on the year at 1.78 million head and marketings the lowest for the month on record at 1.571 million head.

A total of 11.08 million head of cattle were on feed in the U.S. as of Sept. 1, which was down one per cent from the same time a year ago.

The October live cattle contract gained 1.200 cents per pound at 233.575 cents while the December contract was up 1.575 cents at 235.725 cents.

October feeder cattle futures were up by 2.375 cents per pound at 354.100 cents per pound.

The U.S. Department of Agriculture reported wholesale boxed beef prices were down on the day, with choice boxes $3.76 lower at $382.05 per hundredweight and select boxes down $1.39 at $359.92/cwt.

Lean hog prices were mixed, with the nearby October contract up 0.5005 cents per pound at 97.975 cents, while December was down 0.075 cents at 87.625 cents.

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