Cattle getting hit hard this week. Live cattle futures dropped $4 to $4.70 at midday, and feeder cattle are down even worse - losing $7.35 to $8.30 across the board. The Fed Cattle Exchange auction showed some sales at $240-242, but honestly the whole complex is under pressure from equities tanking.

Couple things worth watching though. USDA slaughter numbers came in at 111,000 head Thursday, which puts the week at 433,000 total - that's actually up 6k from the previous week but still trailing year-over-year by about 35k. Wholesale boxed beef prices are all over the place too, with the Choice/Select spread widening to $7.

The real concern for me is the screwworm situation in Tamaulipas. APHIS reported 8 more cases this week including 4 in cattle, bringing the active count to 19 in that bordering state. That's the kind of supply risk that could flip sentiment if it spreads. For now though, the market's just following equities lower. Keeping an eye on how this week plays out.