Live cattle futures closed the Monday session with contracts $3.87 to $5.95 higher. Cash trade has started out on the quieter side this week, with feedlots compiling showlists. Feeder cattle futures rallied on the day. Contracts didn’t quite get to the $10.75 daily limit, but posted gains of $6.75 to $9.30 on the day. September was up $3.90 at the close. The CME Feeder Cattle Index was down 67 cents on September 17 to $339.05. The Monday OKC feeder cattle auction had an estimated 5,700 head for sale, with prices noted as $4 higher on heavier steers and $4 lower on lighter stees. Heifers were down $1 to $5. Steer calves were mixed, up $5 to lower, with heifer calves down $5-10.
The Monday Crop Progress report showed the US pasture rating at 17% gd/ex, down 2% on the week. The Brugler500 index was back down 6 points to 242.
