Live cattle futures closed 42 to 77 cents higher on Monday, pushing off midday pressure. First Notice day was Monday for August, with no deliveries issued and the oldest long dated November 20. Cash trade was quiet on Monday, as last week picked up to $235-236 in the South and Northern trade reported at $247.
Feeder cattle futures were back up 50 to 85 cents on Monday after a bout of midday weakness. The CME Feeder Cattle Index was back down 7 cents to $335.82 on August 1. The Monday OKC feeder cattle auction showed an estimated 6,000 head sold, with price action steady and heavy weight steers and heifers down $3.
