Live cattle futures fell off weaker late in the day, but still closed with 75 cent to $1.32 gains. There were 20 deliveries tendered on Wednesday. Preliminary open interest was down 1,808 contracts on Wednesday. Cash trade has been quiet so far this week, with a few bids of $245 in the north reported and light sales of $240-242 in KS. Wednesday morning’s Fed Cattle Exchange online auction showed a total of 940 head listed with no bids reported.
Feeder cattle futures were well off the intraday highs at Wednesday’s close, still up 35 cents to $2.22 at the final bell. Preliminary open interest suggested a rotation of ownership, up 83 contracts. The CME Feeder Cattle Index was up another $1.51 to $360.68 on August 26.
