CME Cattle Futures Drop as Cash Trades Soften and Pork Prices Rise

On Friday, October 5, 2026, CME cattle futures declined despite weakness in the US grains markets failing to provide significant support. Cash trades this week have been steady to lower, with live cattle trading at $220 per hundredweight (cwt) in northern markets, down $2 from the previous week. In contrast, southern markets saw live cattle priced at $225 per cwt, prompting some operators to transport animals to Oklahoma and Texas for better prices. Don Roose, president of US Commodities, noted that traders are seeking seasonal support in cattle markets but were disappointed by the lack of a stronger boost from the declining corn market.

Chicago Board of Trade corn futures dropped further, nearing a six-week low due to a larger-than-expected USDA estimate of US corn stocks. Slaughtering operations are recovering from recent disruptions caused by an immigration crackdown affecting meatpacking plants, with Friday's slaughter count rising to 100,000 cattle from 87,000 the prior week. Meatpackers' profits per head of cattle fell sharply to $69.35 on Friday, down from $126.45 the previous day and $70.45 a week earlier.

In contrast, CME December lean hog futures rose 1.200 cents to 70.125 cents per pound. CME November feeders settled 5.200 cents lower at 331.150 cents per pound, while December live cattle finished down 1.700 cents at 221.475 cents per pound. Wholesale prices were mixed, with choice cuts of boxed beef falling $2.43 to $374.36 per cwt, while select cuts rose $0.47 to $353.36 per cwt. The USDA reported the wholesale pork carcass cutout at $86.10 per cwt, up 81 cents from Thursday, with pork bellies rising $1.30 to $94.73 per cwt.