Live cattle futures are down $3.55 to $6.32 at the midday part of the session. Cash has been widespread at $240 across the country. The Friday Fed Cattle exchange saw 240.50-242 sales on 166 of the 1,184 head offered, with $236-240 bids on other lots. Feeder cattle are down $7.67 in nearby October with other contracts the limit lower. The CME Feeder Cattle Index was up another 63 cents at $375.10 on October 15.
In a Thursday afternoon release, President Trump stated the administration had a plan to bring down the price of beef. No specifics were released on any plan, though the market is taking a risk off approach.
