Live cattle futures posted Monday gains of $2.72 to $4.90. Preliminary open interest was up 2,799 contracts on Monday. Due to limit gains in some feeder cattle contracts, live cattle limits are expanded to $10.75 on Tuesday. Cash trade has yet to get kicked off on Monday, with last week at $239-240 in the South, with Northern sales of $237-238.
Feeder cattle futures closed the Monday session with front months up $3.57 to $8.97, and deferred contracts up the limit. Limits are expanded to $13.75 on Tuesday. The CME Feeder Cattle Index was back down $1.85 at $358.78 on September 19. Limits will be expanded to $13.75 for today. The weekly OKC feeder cattle auction has an estimated 4,800 head sold, with feeder steers steady to $5 higher, with heifers up $2-6. Calves were up $10-20 for steers and $15-25 for heifers.
