Cattle Market Overview - Cattle placements in October totaled 2.04 million head, which is 10% below 2024 and the lowest for October since 1996 [2] - Cattle and calves on feed for slaughter in the U.S. as of Nov. 1 were 11.7 million head, 2% below the same date in 2024 [2] - Marketings of fed cattle in October were 1.70 million head, 8% below the same time in 2024 [1] Price Trends - Average cash prices for steers and heifers fell to $217.57 and $218.55 respectively, down from $225.06 the previous week [3] - December live cattle futures hit a 4.5-month low, losing $4.70 per hundredweight, while January feeder cattle futures also reached a 4.5-month low, falling $6.325 [5] - Lean hog futures are in a downtrend, with the CME lean hog index down 56 cents to $85.71 [10] Consumer Demand - U.S. consumer demand for beef remains strong, with expectations for increased demand due to holiday meal preparations [7] - Consumer confidence is a critical factor for cattle markets, influenced by the volatility of U.S. stock indexes [8] Market Sentiment - The cattle futures markets are experiencing selling pressure, but there are indications that bearish sentiment may be exhausting [4] - Despite recent price declines, the overall report is considered price-friendly, highlighting historically tight cattle supplies in the U.S. [6] Hog Market Dynamics - The lean hog futures market is under technical selling pressure, with prices expected to continue downward in the near term [9] - Recent trade deals may improve global demand for U.S. pork, particularly with positive developments in U.S.-China relations [12]