By Andi Anderson
Cattle auction prices declined last week in response to volatility in the futures markets. Following two weeks of downward movement in futures, cash market prices also fell across southeastern states. Both 500–600 lb. and 700–800 lb. steers experienced noticeable price reductions, with the largest declines reported in Oklahoma City and Missouri.
For 500–600 lb. steers, prices fell between $20 and $50 per hundredweight, averaging a $150 loss per head in the Southeast compared to the previous week. Despite this drop, prices remain historically strong.
Recent trends in states such as Mississippi, Arkansas, and Kentucky show weekly average prices for steers since early 2024. The latest data confirms a visible decline, but overall values remain high. Earlier in 2024, the 500–600 lb. market followed a typical seasonal pattern, softening from August through October. Before the recent drop, auction prices had remained relatively flat since late summer without significant declines.
Futures markets also displayed sharp volatility. The December Live Cattle contract traded as low as $224 on October 27 before closing at $232, below its mid-October peak of $248. Similarly, the November Feeder Cattle contract dropped below $330 on October 28 before closing at $342. While prices remain above historic lows, the recent correction erased much of the rally seen earlier in the fall.
Market analysts note that tight cattle supplies and strong beef demand continue to support long-term market fundamentals. However, uncertainty can temporarily suppress both futures and cash prices as new data or changing expectations influence traders.
Experts suggest watching the markets closely in the coming weeks, as easing uncertainty and consistent demand could help stabilize prices and restore confidence in the cattle sector.
Photo Credit: gettyimages-baranozdemir
Categories: Ohio, Livestock