Live cattle futures were down $5.70 to $6.25 across the front months on Friday. Despite the collapse, August held onto $2.42 gains last week. Due to the limit losses in the feeders, live cattle will have expanded limits of $10.75 today. Cash trade was light last 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. August was still $4.82 higher last 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.
