Live cattle futures are showing modest losses of 85 cents to $1.15 at midday. Cash trade was reported at $345-350 dressed in the North, with $222-223 live sales. Feeder cattle futures are falling $1.60 to $2.35 on Monday. The CME Feeder Cattle Index was $1.72 on September 24 to $338.79. The weekly OKC feeder cattle auction has an estimated 6,000 head for sale, with early action showing a higher undertone.
Cold storage data from Friday showed August 31 beef stocks at 407.12 million lbs, a 5.16% increase from a year ago and 2.22% above the revised (15.5 million lbs high) July total.
