DAILY CATTLE MARKET BRIEFING
February 20, 2026
MARKET SENTIMENT: Bearish (3/10)
- Processors and feeders both facing losses
- Limited cash trade activity
- Box prices struggling to find support
KEY PRICE TRENDS:
- Live Cattle: Feb futures at $247.50 (+0.90)
- Feeder Cattle: Mar futures at $370.27 (-0.30)
- Choice Cutout: $365.17 (+1.37)
- Select Cutout: $359.79 (-0.84)
TOP 3 NEW DEVELOPMENTS:
1. Severe wildfire risks emerging in Texas, Oklahoma and Kansas with high winds threatening feedyard operations and power supply
2. Show lists down in Texas/Kansas but up in Nebraska; limited cash trade with one small pen at $249 in Texas
3. Current breakeven projections showing $17.24/cwt losses on new placements while current closeouts showing small $6.16/cwt profits
OUTLOOK:
Ranchers should expect continued pressure on prices near-term as packers work through negative margins and try to improve spring beef demand. The timing of feedlot purchases will be critical for profitability. Weather risks from wildfires and drought conditions could impact regional cattle movements. Feeders remain competitive despite concerns about high replacement costs, but placement numbers are likely to trend lower through 2026. Overall, the market faces headwinds from processor losses and uncertain beef demand at current price levels.
February 20, 2026
MARKET SENTIMENT: Bearish (3/10)
- Processors and feeders both facing losses
- Limited cash trade activity
- Box prices struggling to find support
KEY PRICE TRENDS:
- Live Cattle: Feb futures at $247.50 (+0.90)
- Feeder Cattle: Mar futures at $370.27 (-0.30)
- Choice Cutout: $365.17 (+1.37)
- Select Cutout: $359.79 (-0.84)
TOP 3 NEW DEVELOPMENTS:
1. Severe wildfire risks emerging in Texas, Oklahoma and Kansas with high winds threatening feedyard operations and power supply
2. Show lists down in Texas/Kansas but up in Nebraska; limited cash trade with one small pen at $249 in Texas
3. Current breakeven projections showing $17.24/cwt losses on new placements while current closeouts showing small $6.16/cwt profits
OUTLOOK:
Ranchers should expect continued pressure on prices near-term as packers work through negative margins and try to improve spring beef demand. The timing of feedlot purchases will be critical for profitability. Weather risks from wildfires and drought conditions could impact regional cattle movements. Feeders remain competitive despite concerns about high replacement costs, but placement numbers are likely to trend lower through 2026. Overall, the market faces headwinds from processor losses and uncertain beef demand at current price levels.
For more detailed information or specific market data, please contact your local extension office or market analyst.