# Softer demand weighs on cattle prices

> Feeder steers at Oklahoma City averaged $226.83/cwt in November, down $16.67 from October. USDA lowered its fourth-quarter feeder steer forecast by $10 to $230/cwt and its 2024 annual forecast to $242/cwt, citing softer wholesale beef and feedlot margin squeeze.

- Date: 2023-12-25 · published 2023-12-25T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/32848-softer-demand-weighs-on-cattle-prices
- Commodities: [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

Softer wholesale beef prompts packers to limit fed cattle purchases, pressuring feedlot returns and feeder demand. USDA's lower forecast signals weaker feeder cattle prices into early 2024.

## Read by commodity

- FCATTLE: bearish ▼
- LCATTLE: bearish ▼

## Sources

- beefmagazine.com: https://www.beefmagazine.com/market-news/softer-demand-weighs-on-cattle-prices

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.