Live cattle futures closed Thursday with 80 cent to $1.77 gains. Preliminary open interest was down 2,729 contracts. There were no new delivers against October live cattle on Thursday. Cash trade started to pick up at $240 in the North this week, with southern action yet to get kicked off. The Thursday Fed Cattle exchange saw no bids or sales on the 1,172 head offered. Feeder cattle were 25 to 75 cents higher in most contracts, with October down a nickel. 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.
