Live cattle futures were down 30 cents to $1.25 across the board on Wednesday. Open interest was down 658 contracts. The Wednesday Fed Cattle Exchange online auction showed $226 sales on one lot of the 2,914 head offered, with other bids of $223. Feeder cattle futures slipped into the close, with contract down $1.90 to $2.57 on the day. Open interest was down 471 contracts on Wednesday. The CME Feeder Cattle Index was another 5 cents higher on October 13 to $341.42.
Tuesday’s Crop Progress report showed the US pasture rating at 22% gd/ex, down 1% on the week. The Brugler500 index was steady at 257.
