ICE Visits Spark Cattle Futures Sell-Off Amid Pack Margins Optimism

Cattle futures fell by more than 300 points on Tuesday after reports of visits from ICE to packing plants in Kansas. The visits, which were later revealed to be scheduled paperwork audits, sparked concerns that plants might be shut down due to alleged illegal workers.

Slaughter estimates for this week remain in the 530,000-540,000 head area, with a slight decrease from last week's numbers. The increase in expected slaughter is attributed to positive margins at the packer level.

World Weather Inc. forecasts relief from hot and dry weather conditions in the southern Plains, which could improve winter wheat planting and establishment conditions.