Live cattle futures saw gains of $1.25 to $1.75 across the front months on Tuesday. Preliminary open interest was up 2,828 contracts on Tuesday. There were 10 deliveries tendered against October live cattle for Amarillo on Tuesday. Cash trade has yet to get kicked off this week, with last week centering in at $234-235.
Feeder cattle futures were up another $4.30 to $4.70 across most contracts on Tuesday. Open interest dropped 383 contracts on Tuesday, with the October and November contracts seeing the most drop. The CME Feeder Cattle Index was up another $4.02 at $373.02 on October 13. Monday’s OKC feeder cattle auction saw 5,163 head sold, with sales noted $10-20 higher for feeder steers and up $5-15 for feeder heifers. Steer calves were up $20-30, with heifers up to $40 higher.
