U.S. Livestock Futures Mixed After USDA Feedlot Report
U.S. livestock futures weakened as traders positioned ahead of the USDA Cattle on Feed report, with live cattle pressured by profit-taking, narrowing packer margins and concerns about demand. The report showed cattle on feed at 101% of the prior year and placements at 91%, below expectations, while live cattle still ended the week lower. Feeder cattle also declined amid uncertainty over the planned reopening of the Santa Teresa, New Mexico, port to Mexican livestock and concerns about heavier weights. Animal-health risks added uncertainty after the USDA confirmed a New World screwworm case in a New Mexico horse, potentially complicating cross-border livestock movements. Lean hogs continued to set contract lows as weaker cutout values pointed to softer demand.
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