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This is your Daily Live Cattle Price Tracker with Vanessa Clark podcast.
Hey everyone, welcome back to Daily Live Cattle Price Tracker. I'm your host Vanessa Clark, and boy do we have some action to talk about today. If you've been following the cattle markets, you know it's been quite the roller coaster ride, and today's numbers are really telling a story worth paying attention to.
Let's jump right into it. As of today, Friday November 28th, live cattle are trading at 215 dollars and 30 cents per pound. That's up 2 percent from yesterday, which is great news if you're bullish on the market. Now here's where it gets interesting. This week, we've seen some real volatility, but futures are actually showing some positive momentum. December live cattle closed at 215 dollars and 57 cents, up about 4 and a half cents, and February contracts hit 217 dollars and 85 cents, up nearly 5 cents.
But let me give you the real picture here. Over the past month, we've seen prices fall about 6 and three quarters percent, so we're coming off a pretty significant decline. However, compared to a year ago, we're still up about 14 and a half percent, which tells us we're in a much better position long term than we were at this time last year.
Now for some context on what's happening in the live cattle market right now. We've got cash bids moving around in the north at about 210 dollars per pound, with dressed sales around 330 dollars. In the south, light trading is happening around 215 dollars. The marketplace is trying to stabilize after some pretty aggressive price moves this week. What's driving some of this action is that packers are hitting some of their largest margins we've seen in the past two years, which is actually encouraging more cattle to head to market.
Speaking of slaughter volume, last week we saw about 585 thousand head processed, which is actually up from the previous week. That's the kind of volume we haven't seen since mid summer, and it's important because it shows the industry is moving cattle when margins are favorable.
Now here's something really important to watch. Feeder cattle futures are showing some serious movement. We've got feeder cattle for January trading at 323 dollars and 97 cents, up 8 dollars and 85 cents today. That's significant volatility, and traders are definitely positioning for what might come next.
The futures market has been showing a lot of volatility lately, but most traders are anticipating an upward reversal in both cash and futures prices. Some folks are thinking we might see the cash market lead the way here as northern supplies start to clean up, which could give cattle owners more trading leverage.
Looking ahead, the market is expected to trade around 216 dollars and 62 cents by the end of this quarter, and analysts are forecasting prices around 227 dollars and 56 cents in about 12 months.
So here's my takeaway for today. We're seeing some positive momentum on t
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