Live cattle futures were weaker to start the week, with contracts down $1.10 to $1.60 at the close. There were no deliveries issued for October cattle on First Notice Day. Open interest was up 1,523 contracts. Cash trade has yet to get kicked off on Monday, following last week’s live northern sales at $220-222 and southern trade reported at $226. Feeder cattle futures slipped back $1.02 to $2.75 on the session. Open interest suggested new selling interest, up 1,382 contracts. The CME Feeder Cattle Index was 92 cents higher on October 2 to $337.76. The weekly OKC feeder cattle auction showed an estimated 4,700 head sold on Monday, with sales $2-8 lower on feeder steers and steady on heifers. Calves were steady for steers, with heifers $5-10 higher.
Monday’s Crop Progress report showed the US pasture rating at 23% gd/ex, up 4% on the week. The Brugler500 index was back up 9 points to 257.
