Live Cattle, Feeder Cattle Futures Drop Ahead of USDA Report

Live cattle and feeder cattle futures declined on February 20, 2026, ahead of the afternoon USDA Cattle on Feed report. Live cattle dropped between $0.80 and $1.60, while feeder cattle fell $2.50 to $3. Traders expect the report to show January placements down 3.5% and marketings down 12.9% year-over-year. Cash trade was quiet with bids at $245. Export sales fell to a five-week low of 14,694 metric tons for the week ending February 12. Boxed beef prices increased, with Choice boxes rising $1.50 to $366.67, while federally inspected slaughter reached 427,000 head for the week.