Live cattle futures posted gains across most contracts, with 50 cent to $2.35 gains in the nearbys, with August carrying the load. First Notice day if today for August. August was up $3.65 last week. Preliminary open interest was down 14,967 contracts, mainly due to an exodus in August ahead of FND. Cash trade was picked up last week to $235-236 in the South, up $3 to $5 from last week, as Northern trade reported at $247, up $2. The Friday morning Fed Cattle Exchange online auction from Central Stockyards showed $245 sales in IA and CO, with $235 sales in TX.
Feeder cattle futures closed out the Friday session gaining some steam back after the Thursday losses, with contracts up $1.67 to $3.20. August was $3.20 higher on the week. The CME Feeder Cattle Index was up another 98 cents to $335.89 on July 31.
