Tag: Cattle

Feeders lead cattle futures higher this week

Feeder cattle futures continued to grind higher and approached key technical levels this week. March feeders traded $3.12 higher on Tuesday to $344.80 per cwt, the highest close since Oct. 24. Futures closed their gap from the October selloff after trading as high as $345.05 per cwt on Tuesday. Feeder auctions continue to lead the…

Written by

Dawson Schmitt

·

December 30, 2025

Feeder cattle futures continued to grind higher and approached key technical levels this week. March feeders traded $3.12 higher on Tuesday to $344.80 per cwt, the highest close since Oct. 24. Futures closed their gap from the October selloff after trading as high as $345.05 per cwt on Tuesday.

Feeder auctions continue to lead the futures market higher this week as feedlots bid aggressively to fill pens. At the Joplin Regional Stockyards in Missouri, steers weighing 450 pounds sold $45 to $65 higher than a week ago. Lighter-weight heifers saw similar increases, as demand remained very good.

Market fundamentals still point toward tight supplies. The lack of cattle imports from Mexico continues to support prices in southern cattle-feeding states.

Meanwhile, live cattle futures have traded in a tight consolidation range for the past two weeks. February live cattle traded $1.42 higher on Tuesday to $230.40 per cwt. Prices are further from the top of their late October gap of $233.42. Cash prices have been firm around $229 in the north and south over the past couple of weeks.

Boxed beef prices have struggled to find support recently. The choice cutout fell 82 cents at midday on Tuesday to $348.51, the lowest since mid-May. Prices have been working lower over the past two months despite the increase seen typically during this time of the year.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Feeder cattle fall back to last week’s range

Cattle futures have been off to a slow start this week to follow last week’s sideways trade. March feeders traded $1.72 lower on Tuesday to $338.77 per cwt. Prices fell back to the top of last week’s small range after attempting an upside breakout on Friday. The large gap in the chart from prices selling…

Written by

Dawson Schmitt

·

December 23, 2025

Cattle futures have been off to a slow start this week to follow last week’s sideways trade. March feeders traded $1.72 lower on Tuesday to $338.77 per cwt. Prices fell back to the top of last week’s small range after attempting an upside breakout on Friday.

The large gap in the chart from prices selling off sharply in October still serves as a level of resistance. Volatility has been declining rapidly since prices bottomed in November, which supports the current gains.

February live cattle futures traded $1.62 lower to close at $229.80 per cwt. Prices have maintained their sideways trade this week. Live cattle have been following the strength in the feeder market, as fed cash prices took a step back.

Last week’s cash cattle trade resulted in prices $1 to $2 lower in Kansas, while trade was uneven in Nebraska, but prices have been holding up around $228.

Monthly slaughter data released by the USDA showed that meatpackers processed 2.27 million head of cattle in November, down 11 percent year-over-year. Much of that decline was due to significantly lower fed cattle slaughter. Cattle weights climbed dramatically this fall, with the average slaughter weight reaching 1,457 pounds, up 29 pounds from a year ago.

Year-to-date cattle slaughter reached 27.2 million head, down 7 percent from a year ago. Total beef production is just 3.7 percent lower than last year as higher weights have helped offset lower slaughter rates. That has lined up with significantly low fed cattle marketings highlighted in the monthly Cattle on Feed reports.

The USDA also released the latest cold storage data, which showed frozen and chilled beef supplies totaled 425.5 million pounds at the end of November, down 3.4 percent from a year ago. Inventories were also the lowest since 2014.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Nov. feeder cattle placements lowest since 1996

Cattle futures surged on Friday and pushed to the upper end of their weekly range. February live cattle traded $2.75 higher to close at $231.15 per cwt. Prices finished $1.25 higher this week but continued to face overhead resistance below the October selloff gap. March feeders rallied $4.80 higher on Friday to close at $339.40.…

Written by

Dawson Schmitt

·

December 19, 2025

Cattle futures surged on Friday and pushed to the upper end of their weekly range. February live cattle traded $2.75 higher to close at $231.15 per cwt. Prices finished $1.25 higher this week but continued to face overhead resistance below the October selloff gap.

March feeders rallied $4.80 higher on Friday to close at $339.40. Traders were heavy buyers ahead of this afternoon’s USDA report, which continues to suggest tighter feeder cattle supplies. Feeder cattle auctions brought willing buyers this week. The CME Feeder Cattle Index pushed to $350 per cwt for the first time since late October.

The USDA released its December Cattle on Feed report on Friday. The Dec. 1 feedlot inventory totaled 11.727 million head, down 2.1 percent year-over-year. The inventory was slightly lower than market expectations, as well as the lowest since 2017.

Feedlot placements were lighter than expected this month, with November placements falling 11.2 percent from a year ago to 1.595 million head. That was also the lowest November print since the USDA began reporting the data in 1996. Lower placements in Arizona, Colorado, Kansas, and Texas drove the decline.

Feedlot placements have been hit hard, particularly in the south, due to the Mexico border closure. A short-term reopening allowed cattle flow into the U.S. earlier this year before screwworm was detected closer to the U.S.-Mexico border, causing a reclosure. Feeder cattle imports for the first eight months of this year reached 324,653 head, sitting 69 percent lower than the same period last year.

Fed cattle marketings totaled 1.521 million head in November, down 11.8 percent from last year and the lowest since 2014.

Total beef supplies declining
Declining feedlot supplies have driven lower production, with output totaling 26 billion pounds, the lowest since 2017. Despite declining production, total U.S. beef supplies are expected to remain relatively flat between the next couple of years, largely due to imports. For the 2025 calendar year, the total U.S. beef supply is forecast at 31.96 billion pounds, 1 percent lower than a year ago. Supplies are forecast to decline another half a percent in 2026 to 31.84 billion pounds.

Imports will represent a record 16.7 percent of total beef supplies in 2025. That share is expected to grow to another record of 17.1 percent following the Trump administration’s tariff reduction on beef imports this month.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Strong cash continues to support cattle futures

Cattle futures traded mostly higher on Tuesday amid ongoing strength in the cash market. February live cattle traded 15 cents higher to $230.70. Prices continued to test resistance around the bottom end of a gap established by the sharp selloff in October. Futures have been climbing higher on declining volatility, which is a positive signal.…

Written by

Dawson Schmitt

·

December 16, 2025

Cattle futures traded mostly higher on Tuesday amid ongoing strength in the cash market. February live cattle traded 15 cents higher to $230.70. Prices continued to test resistance around the bottom end of a gap established by the sharp selloff in October. Futures have been climbing higher on declining volatility, which is a positive signal.

Cash fed cattle traded saw a welcoming bounce last week, with negotiated sales in Kansas $5 higher at $230. Nebraska live sales were $5 higher at $225 to $230.

Boxed beef prices turned slightly higher to start the week, with the choice cutout gaining $2 on Monday before falling slightly on Tuesday. Relatively tight beef supplies have kept prices well above their seasonal averages.

March feeder cattle traded $2.75 higher on Tuesday to $337.60 per cwt. Price gains were contained by last week’s highs just below $340. Short-term resistance for feeders is the top of the gap around $345. Prices holding within the gap this week is a positive.

Cash feeder cattle found plenty of willing buyers last week, with feedlots jumping back into the market to fill empty pens. Steers and heifers in the Southeast sold $10 to $20 higher last week, while the North Central and South Central regions saw steers sell for $6 to $10 higher.

The USDA will release its December Cattle on Feed report on Friday.

Ahead of the report, the Dec. 1 feedlot inventory is expected to be 1.7 percent lower than a year ago at 11.78 million head, according to a Bloomberg survey of analyst estimates. If realized, that would be the second-lowest December inventory out of the past five years.

Feedlot placements are expected to be 8.2 percent lower than a year ago at 1.648 million head. Tight cow supplies and the Mexico border closure are expected to continue to reduce the number of calves placed on feed. Additionally, placements would be the lowest since 2015.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Feeders lead cattle rally to key technical levels

Cattle futures extended their rebound on Thursday, with feeder cattle trading in a key technical area. January feeder cattle surged $5 today to close at $343.40 per cwt. Prices cleared the $340 technical area, which was the bottom of a gap established by the sharp selloff in late October. The top end of the gap…

Written by

Dawson Schmitt

·

December 11, 2025

Cattle futures extended their rebound on Thursday, with feeder cattle trading in a key technical area. January feeder cattle surged $5 today to close at $343.40 per cwt. Prices cleared the $340 technical area, which was the bottom of a gap established by the sharp selloff in late October. The top end of the gap lies at $341, which could serve as another area of resistance.

Live cattle futures also gapped open higher this morning and remained strong throughout the session. February live cattle traded $2.42 higher to close at $230.95, the highest close since Oct. 24. The anticipation of higher cash this week likely drove the rally, though cash trade has been slow to develop. There was some cash trade in the north yesterday at $224-225, which was slightly higher than last week. Bids emerged in the south today, though no trades were confirmed.

Weekly export sales remain disappointing, with sales for the week ending Nov. 13 totaling just 6,800 metric tons (MT), which was the lowest since the first week of January. Physical exports were up sharply this week but remained well below last year and the five-year average.

U.S. beef exports totaled 80,800 MT in September, according to delayed U.S. Census data on Thursday. Year-to-date shipments are running 11 percent behind last year. Sharply lower shipments to China have driven the decline, with exports sitting 57 percent behind last year. China’s government never renewed export registrations for U.S. beef processing facilities that expired last year.

China had been a major beef export destination emerging from the Covid-19 pandemic. However, declining U.S. supplies pushed China to Brazil, which has been a reliable beef supplier. Strong domestic demand has likely helped lessen the blow of China’s absence, as boxed beef values remain well above year-ago levels.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
USDA raises 2025 beef outlook, lowers pork

The USDA updated its beef and pork production and trade forecasts on Tuesday, offering an increase in the beef outlook, while lower pork. Production U.S. beef production for 2025 was raised to 26.02 billion pounds, up 194 million pounds from November due to a faster slaughter pace for both non-fed and fed cattle during the…

Written by

Dawson Schmitt

·

December 9, 2025

The USDA updated its beef and pork production and trade forecasts on Tuesday, offering an increase in the beef outlook, while lower pork.

Production
U.S. beef production for 2025 was raised to 26.02 billion pounds, up 194 million pounds from November due to a faster slaughter pace for both non-fed and fed cattle during the fourth quarter. Higher dressed weights are also expected to help boost production.

Production for 2026 was also raised to 25.79 billion pounds, up 335 million from last month. The increase was primarily due to higher dressed weights. However, beef production is forecast at the lowest since 2016.

The USDA lowered its cattle price forecast for 2025 and 2026 based on recent price data, as well as the announcement of the Tyson plant closure that will reduce slaughter capacity early next year.

Pork production was lowered for 2025 to 27.48 billion pounds due to a slower slaughter rate based on data through early December, the USDA noted. Production for 2026 was left unchanged at 27.49 billion pounds.

Pork production is expected to outpace beef production for a third consecutive year in 2026 due to dwindling cattle supplies.

Trade
The 2025 beef import forecast was reduced slightly on official trade data reported through August. The beef import forecast was raised sharply for 2026 as the Trump administration removed tariffs on beef products from key beef suppliers.

Beef exports for 2025 were reduced based on recent trade data, which is expected to carry over into 2026. Pork exports for this year were also reduced slightly as lower third-quarter shipments were only partially offset by higher expected demand during the fourth quarter.

However, stronger demand is expected for 2026, with the USDA raising the export forecast.
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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Cash trade leads cattle rebound this week

Cattle futures continued their rebound this week amid stronger signals from the cash market. February live cattle traded as high as $226.75 on Friday, reaching the highest in more than two weeks. Prices reversed some of their gains as buying slowed. January feeder cattle traded more than $2 higher on Friday to $340 per cwt…

Written by

Dawson Schmitt

·

December 5, 2025

Cattle futures continued their rebound this week amid stronger signals from the cash market. February live cattle traded as high as $226.75 on Friday, reaching the highest in more than two weeks. Prices reversed some of their gains as buying slowed.

January feeder cattle traded more than $2 higher on Friday to $340 per cwt before giving back half of those gains. Prices could face resistance around $340, which is the bottom of a gap established by the October selloff.

Cash cattle markets rose sharply this week, with the USDA fed cattle index rising to $217 per cwt, about $10 higher than last week. Additionally, trade in the North reported prices as high as $220.

Cash feeder cattle have also performed well this week. The CME Feeder Cattle Index jumped to $341.80, more than $20 higher than last Friday. Feeder steers weighing 400-700 pounds at the Mitchell livestock auction in South Dakota sold for $11-$30 higher than a week ago.

The USDA confirmed another detection of New World Screwworm in Mexico, about 120 miles south of the U.S. border. The parasite was discovered in a two-year-old bovine that was transported from Veracruz to a feedlot in Nuevo León.

Continued detections near the U.S.-Mexico border likely indicate a prolonged suspension of livestock imports from Mexico. Delayed trade data released on Friday showed that U.S. feeder cattle imports remained significantly lower compared to last year. Shipments for the first eight months totaled 324,600 head, down 66 percent, according to the USDA’s Economic Research Service.

U.S. fed cattle imports from Canada continued to decline year-over-year amid tighter supplies. January-August imports totaled 366,160 head, down 7.3 percent from last year. Shipments are relatively strong compared to the last five years due to increased shipments in the first quarter.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Feeder cattle extended rebound to 2-month high

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…

Written by

Dawson Schmitt

·

December 3, 2025

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.
Tyson to close Nebraska Beef Processing Plant

Tyson Foods announced the closure of one of its largest beef processing plants in Nebraska. The company is the country’s largest meat supplier, and the move coincides with both a cattle shortage and pressure from the Trump administration to lower beef prices. The company is the first of the big four meatpacking companies to close…

Written by

Dawson Schmitt

·

November 24, 2025

Tyson Foods announced the closure of one of its largest beef processing plants in Nebraska. The company is the country’s largest meat supplier, and the move coincides with both a cattle shortage and pressure from the Trump administration to lower beef prices.

The company is the first of the big four meatpacking companies to close a major plant during this supply crunch. Current cattle supplies on pastures are the lowest they’ve been since the 1950s. In response to low supplies and strong consumer demand, livestock prices have reached all-time highs this year.

In addition to the Trump administration’s pressure to lower beef prices, the President announced earlier this month that the Justice Department was investigating meatpacking companies for conspiring to drive up prices. The administration has also moved to increase cattle imports from Argentina and Brazil to combat high prices.

Ranchers have been reluctant to expand their herds and are instead using high incomes to pay down debt and invest in higher-quality cattle.

Tyson reported an adjusted loss of $426 million from its beef business for the 2025 fiscal year, with cattle costs nearly $2 billion higher than in the 2024 fiscal year. The company also said it expected to lose as much as $600 million in its beef sector for fiscal year 2026.

The Lexington, Nebraska, plant has the capacity to slaughter nearly 5,000 cattle per day and employs around 3,200 people. Nebraska Senator Deb Fischer said it was the city’s largest employer, and that the closure would have a devastating impact on the city and region.

The closure of the plant could impact beef production, tightening supplies and increasing prices for consumers. Nebraska feedlot operators expressed concern that having one less large buyer of livestock could impact their revenue.

Tyson Foods also announced it was cutting a Texas facility down to one shift from two at a plant that can currently slaughter 6,000 cattle per day. The change is expected to affect 1,700 employees at the facility.

February live cattle and January feeder cattle futures traded limit-down on Monday’s open following the news.
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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Cattle fall on expectations of increased imports

Cattle futures traded lower on Friday after the market struggled to recover from bearish trade news. The Trump administration announced on Thursday afternoon that it would suspend the 40 percent tariff on some imports from Brazil, including beef. While trade data from Brazil suggests that trade flows to the U.S. were not entirely disrupted, eliminating…

Written by

Dawson Schmitt

·

November 21, 2025

Cattle futures traded lower on Friday after the market struggled to recover from bearish trade news. The Trump administration announced on Thursday afternoon that it would suspend the 40 percent tariff on some imports from Brazil, including beef. While trade data from Brazil suggests that trade flows to the U.S. were not entirely disrupted, eliminating the tariffs would allow better access to beef.

February live cattle traded 92 cents lower on Friday to $214.47 per cwt. Prices opened sharply lower following the tariff news, though prices were able to recoup most of their losses. Overall, the contract traded $4.75 on the week after hitting the lowest level since early July.

Boxed beef prices finished slightly higher on the week, with the choice cutout at $372 per cwt. Prices remained well above their seasonal highs amid relatively tight supplies.

January feeders closed $2 lower on Friday to $314.30 per cwt. Like live cattle feeders opened sharply lower, touching limit-down before rallying off their lows. Bearish pressure dominated the cattle complex this week, with feeder cattle trading $6.30 below last Friday’s close.

Cash feeder trade was mostly steady this week for most major stockyards. The CME Feeder Cattle Index dropped about $2.50 lower this week to $341.

Cattle on Feed Report
The USDA released its latest Cattle on Feed report on Friday, which was nothing to get too excited about. The Nov. 1 feedlot inventory was reported at 11.71 million head, down 2.2 percent from a year ago. That was the lowest November inventory since 2018.

The numbers of heifers on feed on Oct. 1 totaled 4,355 head, representing about 38.1 percent of the total herd. Heifers still represent a historically large portion of total feedlot supplies, suggesting that producers are still more apt to capitalize on high fed cattle prices rather than retain females for breeding.

October feedlot placements totaled 2.039 million head, down 10 percent from last year and lower than market expectations. That was the lowest October placement number for data going back to 1996.

October fed cattle marketings fell 8 percent from a year ago to 1.70 million head. Marketings came in at the low end of market expectations.

Overall, Friday’s report was seen as mostly neutral. The underlying fundamentals have been unable to support prices over the past month due to market uncertainty. The recent encouraging of beef imports from the Trump administration has analysts expecting the administration to reopen the southern border to cattle imports from Mexico. Allowing supplies to cross the border again would raise feedlot placements by at least 1 million head over the next year.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Trump expands tariff cut to Brazilian beef

Trump signed an executive order Thursday exempting beef, coffee and dozens of other popular food products from a 40 percent tariff he introduced earlier this year. The change is retroactive to Nov. 13. The move was intended to cut prices on popular products to help Americans struggling with grocery bills which have increased in the…

Written by

Dawson Schmitt

·

November 21, 2025

Trump signed an executive order Thursday exempting beef, coffee and dozens of other popular food products from a 40 percent tariff he introduced earlier this year. The change is retroactive to Nov. 13.

The move was intended to cut prices on popular products to help Americans struggling with grocery bills which have increased in the past six months.

The Brazilian government has been working to persuade the U.S. to pull back tariffs on their products, as the trade partner has historically run a trade deficit with the U.S.

This cut follows statements by the Trump administration that they are trying to lower high beef prices for consumers. It also comes one week after the administration cut a 10 percent reciprocal tariff on beef that favored other importers to the U.S., including Australia, New Zealand, and Argentina.

Brazil was the No. 1 supplier of U.S. beef imports this year before Trump had imposed the 40 percent tariff. The country accounted for about 23 percent of total shipments, with volumes nearly double compared to the first seven months of last year, according to government data.

Australia has been a surprise beneficiary from U.S. tariffs. Despite the 10 percent tariff, exports to the U.S. have surged – up 47 percent to $3.6 billion for the 12 months leading up to Sept. 2025, compared to $2.44 billion in the prior year. Poor U.S. domestic production and higher tariffs on other major exporters to the U.S., such as Brazil, also played a role in the increase.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Cattle futures pressured ahead of Nov USDA report

Cattle futures have been broadly consolidating this week after prices fell to a fresh four-month low on Friday. The most active February live cattle futures traded sharply lower on Wednesday, pushing below the 200-day moving average, which has so far provided near-term support. January feeder cattle also traded sharply lower to start the morning. Heavy…

Written by

Dawson Schmitt

·

November 19, 2025

Cattle futures have been broadly consolidating this week after prices fell to a fresh four-month low on Friday. The most active February live cattle futures traded sharply lower on Wednesday, pushing below the 200-day moving average, which has so far provided near-term support. January feeder cattle also traded sharply lower to start the morning.

Heavy pressure remains over the cattle complex amid the government’s rhetoric aimed at lowering beef prices. Headline risks remain a concern for the market.

Wholesale beef prices remain at a record for this time of the year despite President Trump’s call for lower prices. The choice cutout traded around $372 per cwt on Tuesday, sitting about $65 higher than the same time last year. Cash cattle trade has been established yet this week, but last week’s feeder trade was all over the place. Lighter steers still benefited from $400+ per cwt across multiple regions. Cash fed cattle were $2-$4 lower in the South and steady in the North.

Still, nothing has fundamentally changed over the past month, with record-low cattle inventories across the U.S. The USDA will release its Cattle on Feed report on Friday after the government shutdown suspended the October report.

Ahead of the report, a Bloomberg survey of analyst estimates predicts the Nov. 1 feedlot inventory to total 11.7 million head, down 2.3 percent year-over-year. If realized, that would be the lowest inventory for the month since 2018.

October feedlot placements are expected to have fallen 8.1 percent year-over-year to 2.083 million head, the lowest in over 30 years. Lower feedlot supplies are expected to have an impact on fed cattle marketings. The average analyst guess predicts October marketings to have fallen 7.1 percent year-over-year to 1.715 million head.

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