DAILY CATTLE MARKET BRIEFING
February 24, 2026
MARKET SENTIMENT: Moderately Bullish (7/10)
Prices remain elevated with tight supplies, though some caution exists around packer margins and slaughter volumes.
KEY PRICE TRENDS:
- Cash cattle: $247-249/cwt live, $388 dressed - up $1-3 and $6 respectively
- Choice boxed beef: $369.22/cwt - up $2.52
- Select boxed beef: $364.31/cwt - up $3.57
- February Live Cattle futures closed at $244.975, down $1.60
- Feeder Cattle futures down $3.70-3.72 across contracts
TOP 3 NEW DEVELOPMENTS:
1. Weekly slaughter volume dropped sharply to 516,000 head (-25,000 from previous week, -49,000 vs 2025), likely to drive higher box prices
2. Supreme Court ruling on presidential tariff authority creates uncertainty around beef trade policies, with new 15% across-the-board tariffs pending
3. Cattle on Feed report slightly bullish with placements at 95% of last year, second lowest January total since 1998
OUTLOOK:
Ranchers should expect continued strong cash prices supported by tight supplies and reduced slaughter capacity, though risks include:
- Packer margin pressure could lead to additional plant slowdowns
- Uncertain trade impacts from evolving tariff situation
- Consumer resistance to record high beef prices
- Seasonal price patterns suggest potential weakness into spring, though recent years have defied typical seasonality
The market remains fundamentally supported by limited cattle numbers, but caution is warranted given historically high price levels and multiple macro risks. Focus on risk management given elevated replacement costs.
February 24, 2026
MARKET SENTIMENT: Moderately Bullish (7/10)
Prices remain elevated with tight supplies, though some caution exists around packer margins and slaughter volumes.
KEY PRICE TRENDS:
- Cash cattle: $247-249/cwt live, $388 dressed - up $1-3 and $6 respectively
- Choice boxed beef: $369.22/cwt - up $2.52
- Select boxed beef: $364.31/cwt - up $3.57
- February Live Cattle futures closed at $244.975, down $1.60
- Feeder Cattle futures down $3.70-3.72 across contracts
TOP 3 NEW DEVELOPMENTS:
1. Weekly slaughter volume dropped sharply to 516,000 head (-25,000 from previous week, -49,000 vs 2025), likely to drive higher box prices
2. Supreme Court ruling on presidential tariff authority creates uncertainty around beef trade policies, with new 15% across-the-board tariffs pending
3. Cattle on Feed report slightly bullish with placements at 95% of last year, second lowest January total since 1998
OUTLOOK:
Ranchers should expect continued strong cash prices supported by tight supplies and reduced slaughter capacity, though risks include:
- Packer margin pressure could lead to additional plant slowdowns
- Uncertain trade impacts from evolving tariff situation
- Consumer resistance to record high beef prices
- Seasonal price patterns suggest potential weakness into spring, though recent years have defied typical seasonality
The market remains fundamentally supported by limited cattle numbers, but caution is warranted given historically high price levels and multiple macro risks. Focus on risk management given elevated replacement costs.
For more detailed information or specific market data, please contact your local extension office or market analyst.