Live cattle futures are posting slight midday losses on Monday, with contracts down 30 to 60 cents. Cash trade settled in at $232-235 in the North last week, $3 lower, with Southern action at $235-237, down $3. Feeder cattle futures are trading with midday losses of 25 to 80 cents across most contracts on Monday. The CME Feeder Cattle Index was up 94 cents at $365.04 on September 25. The weekly OKC auction has an estimated 5,000 head for sale, which is slightly above last week. Some early sales were steady.
USDA’s Cold Storage report from Friday showed beef stocks on August 31 at 393.802 million lbs. That was a 1.01% drop from July but was 1.52% above the same period last year.
