DAILY CATTLE MARKET BRIEFING
April 10, 2026
MARKET SENTIMENT: Cautiously Bullish (7/10)
KEY PRICE TRENDS:
• Fed cattle prices reached near-record levels at $244.96/cwt, up $9.27 from previous week
• Boxed beef prices weakened despite aggressive packer buying
• Feeder cattle prices 21-38% higher than year-ago levels across the Southeast
• Carcass weights remain heavy at 955 lbs, 40 lbs heavier than last year
TOP 3 NEW DEVELOPMENTS:
1. JBS GREELEY PLANT REOPENS: After a three-week strike, JBS Greeley employees returned to work without a new agreement. This restores critical slaughter capacity ahead of spring demand surge and should help stabilize the market by preventing cattle backups.
2. POTENTIAL U.S.-MEXICO BORDER REOPENING: USDA Secretary Brooke Rollins indicated a decision on reopening the U.S.-Mexico border to feeder cattle could come within "two to four weeks." A phased approach starting with the Douglas, AZ crossing is being considered, which would help address tight feeder supplies.
3. MIDDLE EAST CEASEFIRE AGREEMENT: A two-week ceasefire has been agreed upon with Iran, opening the Strait of Hormuz for shipping. This has reduced oil prices and decreased recession fears, which is positive for beef demand as recession remains the biggest threat to the current cattle market rally.
OUTLOOK:
Ranchers should expect continued price strength through spring and early summer as we enter the strongest beef demand period of the year. With no signs of herd expansion and the JBS plant back online, supplies will remain tight while demand strengthens.
The current futures market structure (April over June, June over August) suggests producers should consider pulling cattle ahead rather than continuing the trend of overfeeding. This could lead to declining weights and further tighten beef supplies.
Drought conditions have expanded in many regions, which may limit expansion plans and could support prices longer term. However, the reopening of Mexican cattle imports could provide some relief to the tight feeder supply situation by fall.
Risk management opportunities are particularly attractive given current price levels. Producers with recently born calves should analyze futures, options, or USDA Livestock Risk Protection (LRP) programs to lock in historically strong prices.
April 10, 2026
MARKET SENTIMENT: Cautiously Bullish (7/10)
KEY PRICE TRENDS:
• Fed cattle prices reached near-record levels at $244.96/cwt, up $9.27 from previous week
• Boxed beef prices weakened despite aggressive packer buying
• Feeder cattle prices 21-38% higher than year-ago levels across the Southeast
• Carcass weights remain heavy at 955 lbs, 40 lbs heavier than last year
TOP 3 NEW DEVELOPMENTS:
1. JBS GREELEY PLANT REOPENS: After a three-week strike, JBS Greeley employees returned to work without a new agreement. This restores critical slaughter capacity ahead of spring demand surge and should help stabilize the market by preventing cattle backups.
2. POTENTIAL U.S.-MEXICO BORDER REOPENING: USDA Secretary Brooke Rollins indicated a decision on reopening the U.S.-Mexico border to feeder cattle could come within "two to four weeks." A phased approach starting with the Douglas, AZ crossing is being considered, which would help address tight feeder supplies.
3. MIDDLE EAST CEASEFIRE AGREEMENT: A two-week ceasefire has been agreed upon with Iran, opening the Strait of Hormuz for shipping. This has reduced oil prices and decreased recession fears, which is positive for beef demand as recession remains the biggest threat to the current cattle market rally.
OUTLOOK:
Ranchers should expect continued price strength through spring and early summer as we enter the strongest beef demand period of the year. With no signs of herd expansion and the JBS plant back online, supplies will remain tight while demand strengthens.
The current futures market structure (April over June, June over August) suggests producers should consider pulling cattle ahead rather than continuing the trend of overfeeding. This could lead to declining weights and further tighten beef supplies.
Drought conditions have expanded in many regions, which may limit expansion plans and could support prices longer term. However, the reopening of Mexican cattle imports could provide some relief to the tight feeder supply situation by fall.
Risk management opportunities are particularly attractive given current price levels. Producers with recently born calves should analyze futures, options, or USDA Livestock Risk Protection (LRP) programs to lock in historically strong prices.
For more detailed information or specific market data, please contact your local extension office or market analyst.