May 6, 2026 – Live cattle futures surged on Tuesday, with contracts posting gains of $1.47 to $2.92 across the board. Feeder cattle futures also bounced back, rising $4.25 to $5.70 in what traders call a classic Turnaround Tuesday.
The rally comes after a quiet start to the week for cash trade. Last week’s cash deals finished near $256-$257 per hundredweight. A few light sales were reported at $400 in Nebraska, but overall volume remains thin.
Also read: Hog Futures Slide on Monday, Slaughter Up
Feeder Cattle Lead the Charge
Feeder cattle futures saw the biggest gains. The May 2026 contract closed at $371.825, up $5.225. August 2026 feeder cattle settled at $372.300, a gain of $5.700. September 2026 contracts ended at $370.375, up $5.575.
The CME Feeder Cattle Index slipped 21 cents to $375.33 on May 4. That slight decline did not dampen the futures rally.
Also read: Soybeans Rally on Monday Despite Weak Export Data
Data from the weekly Oklahoma City feeder cattle auction showed 6,402 head sold. Steer prices were steady to $4 higher. Heifers were steady to $2 lower. Calves saw the biggest gains, rising $5 to $10 per head.
New World Screwworm Update
The USDA’s Animal and Plant Health Inspection Service (APHIS) released its latest update on the New World Screwworm outbreak. As of Monday, there were 1,674 active cases in Mexico. The breakdown by border state includes:
- Tamaulipas: 126 active cases, with 3 within 96-97 miles of the U.S. border.
- Nuevo Leon: 21 active cases, with 6 within 80-97 miles of the border.
- Coahuila: 4 active cases.
The proximity of some cases to the U.S. border remains a concern for cattle producers and regulators.
Beef Exports Hit 10-Year Low
Census data converted to a carcass basis showed March beef exports at 207.25 million pounds. That is a 10-year low for the month but a 12.9% increase from February.
Industry watchers note that the export figure reflects ongoing challenges in global demand and trade logistics.
Wholesale Boxed Beef Prices Rise
Wholesale boxed beef prices moved higher in Tuesday’s afternoon report. The Choice-Select spread narrowed to just 10 cents.
- Choice boxes: Up 78 cents to $393.42.
- Select boxes: Up $1.64 to $392.24.
The narrow spread suggests solid demand for both grades.
Slaughter Data
The USDA estimated federally inspected cattle slaughter for Tuesday at 104,000 head. That brings the weekly total to 202,000 head. This is down 13,000 head from the same period last week and 27,987 head below the same week last year.
The lower slaughter numbers could signal tighter supply, which may support prices in the near term.
Contract Settlements
Here are Tuesday’s closing prices for key live and feeder cattle contracts:
| Contract | Close | Change |
|---|---|---|
| Jun 26 Live Cattle | $253.225 | +$1.475 |
| Aug 26 Live Cattle | $248.350 | +$2.175 |
| Oct 26 Live Cattle | $243.225 | +$2.775 |
| May 26 Feeder Cattle | $371.825 | +$5.225 |
| Aug 26 Feeder Cattle | $372.300 | +$5.700 |
| Sep 26 Feeder Cattle | $370.375 | +$5.575 |
What’s Next for Cattle Markets
Cash trade this week will be closely watched. If packers step in at higher levels, it could confirm the futures rally. The New World Screwworm situation in Mexico also bears watching. Any spread closer to the U.S. border could trigger new restrictions.
For now, traders are focused on supply tightness and export data. The next USDA cattle report is expected later this month.
This article was produced with AI assistance and reviewed by our editorial team for accuracy and quality.
