Cattle futures continued their rebound this week despite a quiet cash market. February live cattle traded $1.10 higher on Wednesday to $221.90 per cwt. Prices climbed back above the 200-day moving average this week, which is a positive signal. Technically, prices could struggle around $230 if they make it to that level. The area served as resistance after prices broke below it during the selloff in late October.

Boxed beef prices continued to slip lower this week, with the choice cutout trading at $365.40 by midday on Wednesday. Prices remain high seasonally due to relatively tight domestic supplies. Cash trade has yet to develop for the week, though the USDA index did rebound to start the week after last week’s notably lower trade.

January feeder cattle futures traded $1.97 higher on Tuesday and closed at $331.85 per cwt, the highest close in two months. Prices could face resistance around $340, which is the bottom of a gap established by the October selloff.

In the cash market, feeder auctions in Missouri showed steers selling for up to $25 higher than last week. The CME Feeder Cattle Index jumped more than $2 higher this week to $332.36.

Monthly data released this week showed that U.S. cattle slaughtered in October totaled 2.63 million head, down 8 percent from October 2024. Year-to-date slaughter totaled 24.93 million head, down 6.7 percent from last year.

Cattle weights increased substantially in the fall, averaging 1,451 pounds in October, compared to 1,422 pounds a year ago and the five-year average of 1,389 pounds.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.