Live cattle futures are trading with contracts down a dime to 50 cents higher at midday. There were no deliveries issued on first notice day for August live cattle futures. Cash trade was quiet on Monday, though USDA did pick up a few $235 in the North. Feeder cattle futures are posting midday gains of $1 to $1.30 on Tuesday. The CME Feeder Cattle Index was back down $1.38 on August 6 to $355.98. Monday’s OKC feeder cattle auction showed 2,632 head sold, with feeder steers steady to $5 higher and heifers steady.
NASS Crop Progress data showed the US pasture rating at 25% gd/ex, steady with the week prior. The Brugler500 index was unchanged at 259.
