Live Cattle futures trade mixed following USDA Cattle on Feed report.

December Live Cattle futures settled slightly higher at $216.62, down $5.60 for the week as markets digested the USDA Cattle on Feed report. While on-feed numbers met expectations at 101%, placements dropped to 91%, falling well below analyst estimates. October Feeder Cattle futures slid to $323.50 under pressure from news that the USDA plans to reopen the Santa Teresa, New Mexico port. Meanwhile, December Lean Hog futures fell to a new contract closing low of $68.55, down 5.7% on the week.