Live cattle futures rallied higher on Monday, with contracts $2.07 to $2.92 in the green at the close. Open interest was up 3,461 contracts on Monday. Cash from last week showed sales $1-6 higher than the previous week at $222-225. Feeders were the leaders, with contracts up $2.72 to $5.75 on the day. The CME Feeder Cattle Index shot up $10.49 on September 11 to $341.71. The weekly OKC feeder cattle auction showed sales on 5,800 head, with steers up $15-25 and heifers $15-20 higher.
Tuesday’s Crop Progress report showed the US pasture rating at 19% gd/ex, up 1% on the week. The Brugler500 index was back up 5 points to 248.
