Live cattle futures closed the Monday session with contracts $3.87 to $5.95 higher. Open interest was down just 595 contracts on Monday. Cash trade has started out on the quieter side this week, with feedlots compiling showlists. Feeder cattle futures rallied on the day. Contracts didn’t quite get to the $10.75 daily limit, but posted gains of $6.75 to $9.30 on the day. September was up $3.90 at the close. OI was down 1,713 contracts, suggesting some short covering. he CME Feeder Cattle Index was down 67 cents on September 17 to $339.05. The Monday OKC feeder cattle auction had an estimated 5,700 head for sale, with prices noted as $4 higher on heavier steers and $4 lower on lighter stees. Heifers were down $1 to $5. Steer calves were mixed, up $5 to lower, with heifer calves down $5-10.
The Monday Crop Progress report showed the US pasture rating at 17% gd/ex, down 2% on the week. The Brugler500 index was back down 6 points to 242.
