Live cattle futures were $3.90 to $5.35 higher across most contracts on Wednesday. Open interest was down another 5,919 contracts. Cash trade started a little early this week, falling $5-9 in NE to $230 on Monday. Other bids have been reported at $228-230. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,706 head, with $230 bids on a few. Feeder cattle futures posted gains of $3.77 in the October contract which expires today, as contracts were up $8.50 to $10 in other contracts. Open interest w down 1,467 contracts. The CME Feeder Cattle Index fell $3.63 at $356.62 on October 28. Price limits revert back to the normal $7.25 for live cattle and $9.25 for feeders on Thursday.
The Mexican ag minister on Wednesday morning stated the US and Mexico have not agreed on a date to reopen the southern border for cattle imports.
