Live cattle futures fell $5.70 to $6.25 across the front months on Friday, with August holding onto $2.42 gains this week. Due to the limit losses in the feeders, live cattle will have expanded limits of $10.75 on Monday. There were no deliveries issued for August live cattle on Friday, with the oldest long still dated December 11. Cash trade was light this week with $245 northern action reported, steady to $2 lower wk/wk. The South was listed at $235, steady. The Friday morning Fed Cattle Exchange online auction showed BidTheGrid™ sales of $240.50-245 on 220 of the 600 head offered. ‘
Feeder cattle futures posted limit losses nearly across the board on Friday, likely ignited by some profit taking ahead of the weekend and extending to the limit into the close. August was still $4.82 higher this week. Limits will be expanded to $13.75 on Monday. The CME Feeder Cattle Index was up another 24 cents to $337.21 on August 7.
