The time between Christmas until after the New Year holiday really is a peculiar time for the markets. Traders are lightly participating in the complex, but no real business seems to be done during that time. Typically, fundamental business in the countryside is even more sparse.

Given recent developments in the marketplace, it's even more likely this year the market will endure a complacent period until the holidays have passed and business is back to normal. Monday afternoon, the Oklahoman National Stockyards shared that after Tuesday's Dec. 16 auction they won't be hosting any more sales until after the New Year holiday. Most sale barns nationwide will follow that same schedule.

Also, with last week's negotiated fed cash cattle trade totaling a whopping 103,180 head -- the largest weekly traded volume for both 2024 and 2025 -- the market won't likely see much more interest from packers in the cash cattle complex until after the New Year as they'll likely opt to run reduced kill schedules over the next two weeks and have ample supplies of cattle committed around them.

Trade in the futures complex will likely also be stagnant as the market has been trading alongside its 100-day moving average in both the live cattle and feeder cattle markets. At this point, traders haven't felt as though they possess enough support to successfully challenge that threshold.

This upcoming Friday, the market will see its monthly Cattle on Feed report released. Regardless of the market implications of that report, it's likely traders and cattlemen alike will pay little attention to it, as everyone's anxiously awaiting the holiday break.

Now after the first of the year, there could be some exciting developments in the complex again, as I must remind you -- the cattle market's tightest supplies are still ahead of us. This means at least through the first quarter and potentially into the second quarter of 2026, packers are going to need to stay engaged and actively seek fed cattle as the spring inventory will be limited. The overarching major risk that continues to loom will be regarding the border and when the announcement is made that it could reopen.

But even if the markets are slow and complacent, I will remain behind the wheel over the next two weeks keeping you updated if anything wild should develop. Merry Christmas, friends, and be sure to love on those close to you and remember Christ is the reason for the season!

ShayLe Stewart can be reached at ShayLe.Stewart@dtn.com

(c) Copyright 2025 DTN, LLC. All rights reserved.