Market Snapshot (Fri, 2/21)

While a weaker dollar provided some support, global energy markets remain volatile, with ongoing geopolitical tensions, including a drone attack on a Russian pumping station...

πŸ“Š Cattle Barometer Rating: 63 (Moderately Bullish) πŸ‚

πŸ“Œ Market Snapshot

  • πŸ‚ Live Cattle: $193.80 (-0.975)
  • πŸ‚ Feeder Cattle: $266.825 (-2.20)
  • 🌽 Corn: $4.97 (-0.01)
  • πŸ“‰ Dow 30: 44,176.65 (-450.94)
  • πŸ›’ Crude Oil: $71.93 (-0.55)
  • πŸ₯© Boxed Beef: $312.63 (-1.26)

πŸ“’ Friday Market Update – February 21st, 2025 πŸ“Š

Livestock prices showed some moderate declines today, with Live Cattle closing at $193.80 (-0.975) and Feeder Cattle at $266.825 (-2.20). The weaker boxed beef market, down $1.26 to $312.63, contributed to some of the pressure on cattle futures. Despite these declines, feeder cattle prices remain historically strong, though buyers appear to be exercising caution as the market adjusts. Corn edged lower to $4.97 (-0.01), offering some relief for feed costs, though any sustained rally in grain prices could impact cattle feeding margins moving forward.

On the broader market front, stocks took a hit, with the Dow Jones falling 450.94 points (-1.01%) and the Nasdaq slipping 93.89 points (-0.47%). Concerns over consumer demand weakness, fueled by Walmart’s disappointing forecast, led to widespread selling pressure across equities. Meanwhile, crude oil settled at $71.93 (-0.55) after reaching a one-week high earlier in the session. While a weaker dollar provided some support, global energy markets remain volatile, with ongoing geopolitical tensions, including a drone attack on a Russian pumping station, creating uncertainty over future supply disruptions.