
Feeder steer prices at Oklahoma National Stockyards averaged $283.18/cwt in March, over $31 above March 2024, then dropped about $20 to $270.90 in the April 7 auction on lighter receipts. Feeder and stocker sales in the first two months were down 15% year over year, as Mexican feeder cattle imports fell 75% under restrictions.
Sharply lower feeder cattle imports and placements tighten feeder supplies, supporting outlying futures prices and feeder cattle values despite short-term volatility.
After 47 past bullish trade events, Feeder Cattle moved a median +0.2% over 5 sessions (53% higher; middle half -1.0% to +1.0%), and +1.5% over 20.
After 78 past bullish trade events, Live Cattle moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +1.2%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.