Live cattle futures were mixed on Friday, with contracts down 52 cents to 37 cents higher, as October was down $3.75 on the week. Cash trade was reported at $350-355 dressed in the North with a few $222-223 live sales. Feeder cattle futures were 65 cents to $2, as September was $4.25 lower than last Friday. The CME Feeder Cattle Index was down 67 cents on September 17 to $342.50.
USDA’s Cattle on Feed report from Friday showed August placements well below estimates (down 3.3%) at 1.617 million head, a record low for the month and 9.16% below last year. Marketings during the month were down 3.31% at 1.519 million head. September 1 on feed inventory was up just 0.75% from a year ago at 11.163 million head.
