Live cattle futures fell the $7.25 limit on Wednesday as longs continue to flood the exits. The Central Stockyards Fed Cattle online auction showed no sales on the 1,228 head offered, with bids at $228-230.50. Outside of that, Northern sales were reported at 230-230.50, with $232 Southern sales. Feeder cattle posted the $9.25 limit losses across the board on Wednesday. The CME Feeder Cattle Index was back up $2.61 to $349.42 on November 4. Both live ($10.75) and feeder ($13.75) futures will have expanded limits on Thursday.
Secretary Rollins met with the Mexican President on Tuesday, with the border expected to remain closed. She did comment that President Trump is still very focused on reopening the border. That may be sparking some more liquidation.
