The cattle complex finished slightly lower on Thursday after struggling to extend gains from the previous session. April live cattle traded 32 cents lower to close at $240.65 per cwt. Prices mostly filled their gap from last Thursday’s selloff. A move above the level could help reignite bullish momentum. March feeder cattle traded $1.72 lower at $365.72.

Sharply lower stock market prices likely added some pressure today. Overall, strength in the stock market has likely helped cattle recover from their fall lows.

Cash cattle trade has been slow to develop this week. Better business could emerge on Friday, which has been the case for multiple weeks. Feeder cattle auctions have been reporting strong numbers this week. The Huss Livestock Market in Nebraska reported that steers and heifers weighing less than 600 pounds sold for up to $20 higher. Calves weighing more than 600 were steady to $10 higher.

The market is likely watching the situation at the JBS packing plant in Greeley, Colorado. Last week, workers approved a potential strike and are preparing to hit the picket line.

Beef prices have been lagging compared to their highs from late summer. However, the cutout remains higher year-over-year at $364.84 per cwt.

The increase in the quantity of on-quota imports of beef from Argentina will go into effect on Friday. That would raise the tonnage of preferential treatment for Argentinian beef to 100,000 metric tons (MT), up from the current 80,000-ton quota.

Higher imports have kept total U.S. beef supplies relatively steady over the past few years despite production falling to the lowest since 2017.

The USDA estimates that U.S. beef imports totaled a record 5.4 billion pounds in 2025, representing about 17 percent of total supplies. Imports are expected to hit another record of 5.6 billion pounds in 2026.

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