Live cattle futures are pulling back on Tuesday, with contracts down $1.77 to $2.20 at midday. Cash trade has yet to get kicked off this week, as last week showed sales $1-6 higher than the previous week at $222-225. Feeder cattle futures are $3.30 to $3.95 lower so far on Tuesday. The CME Feeder Cattle Index shot up $10.49 on September 11 to $341.71. The weekly OKC feeder cattle auction showed sales on 5,198 head, with steers up $15-25 and heifers $10-20 higher.
Monday’s Crop Progress report showed the US pasture rating at 19% gd/ex, up 1% on the week. The Brugler500 index was back up 5 points to 248.
