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Barchart
Austin Schroeder

Cattle Close Mixed, with Feeders Continuing Decline

Live Cattle Fed Cattle Exchange Feeder Cattle USDA

Live cattle futures saw some light rebound action on Thursday, with contracts up 30 cents to $1.35 at the close. Cash trade saw some light action across the country at $239-240 so far this week. The Thursday morning Fed Cattle Exchange online auction showed no sales on the 1,646 head offered with bids at $238. Feeder cattle futures failed to see any bounce back on Thursday, as contracts were down $1.72 to $3.60 in the nearbys, falling lower into the close. The CME Feeder Cattle Index was back down $1.38 at $370.62 on October 22. 

On Thursday morning, the White House raised the tariff rate quota on Argentina beef imports to 80,000 MT from the 20,000 MT level. 

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