Live cattle futures were down 60 cents to $1.35 at the close. Preliminary open interest dropped 2,522 contracts, with December down 8,675 contracts and Feb up 4,727 contracts. Last week’s cash trade was reported at $225-230 in the north, with $230-232 Southern sales. Monday activity was quiet with showlists being compiled.
Feeder cattle futures slipped off the midday highs to close with front month gains of a dime to $2.02. Open interest saw a drop of 812 contracts on Tuesday. The CME Feeder Cattle Index was back down $1.61 to $342.76 on November 10. The weekly OKC feeder cattle auction had 6,113 head for sale, with feeders steady to $5 lower. Steer calves were $5-10 lower, with heifers steady. Tuesday has expanded limits of $10.75 for live cattle and $13.75 for feeders.
