On Friday- October live cattle closed $2.30 lower at $229.97, December live cattle closed $2.20 lower at $231.92 and February live cattle closed $2.02 lower at $233.22. It is important to note that the spot October contract did, unfortunately, close below the market’s 40-day moving average, which could mean that this coming week the market could see continued downward pressure, as technically speaking, that’s a negative signal. A few more cash cattle sales developed throughout the week, but prices held steady with the week’s trend. Throughout the week, Southern live cattle traded at mostly $240, which is $2.00 lower than last week’s weighted average and Northern dressed cattle traded at $375 to $378, which is $5.00 to $8.00 lower than last week’s weighted average.
The $240 paid for cattle in the southern plains was confirmed in the Texas Cattle Feeders weekly market report.
