Livestock to Retreat on Tuesday
In the latest developments in the livestock market, the weekly OKC feeder cattle auction saw a downturn in prices for calves, with values dropping by $10-20. Simultaneously, the auction offered 6,044 head for sale, with price action down $2-6 for feeder heifers and steady for feeder steers.
Meanwhile, live cattle futures have also experienced a decline. For October 25, live cattle futures stand at $233.200, marking a drop of $1.400. Similarly, live cattle futures for December 25 are at $235.000, down $1.275.
The futures for feeder cattle are also showing some losses, with contracts down 40 cents to $1 at midday. For October 25, feeder cattle are at $354.100, down $0.400 compared to November 25 feeder cattle. Interestingly, September 25 feeder cattle were at $358.200, down $0.600 compared to the previous week's cash activity for live cattle.
It is worth noting that the CME Feeder Cattle Index was down 93 cents at $362.15 on September 12. However, the current week's cash activity for live cattle and the prices for feeder heifers or feeder steers at the OKC feeder cattle auction remain unreported.
On a broader scale, the USDA federally inspected cattle slaughter for Monday was 10,815 head lower than the same week in 2024. In contrast, USDA federally inspected cattle slaughter for Monday was estimated at 110,000 head, 4,000 head above last Monday.
Live cattle futures for February 26 are at $237.075, down $0.725. The February 26 feeder cattle futures are yet to be reported.
All the information and data presented in this article are for informational purposes only. It is essential to conduct thorough research and consult with financial advisors before making any investment decisions. It is also important to note that the person who had no positions in the mentioned securities on the publication date is not explicitly named in the given search results. However, it is clearly stated in multiple sources that there were no conflicts of interest, implying no holdings in those stocks by the analysts or creators of the reports at the time of publication.
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