Live cattle futures are trading with 55 cent to $2 gains at the midday portion of Monday. Today is first notice day for October live cattle. Cash trade settled in at $230 in the North last week with Southern trade at $233. Feeder cattle futures are leading the bull charge so far on Monday, up $4.50 to $4.825. The CME Feeder Cattle Index was back up $0.94 at $362.57 on October 2. The weekly OKC feeder cattle auction has an estimated 5,500 head for sale, with a steady undertone noted so far.
USDA Wholesale Boxed Beef prices were higher in the Monday morning report, with the Chc/Sel spread narrowing to $15.60. Choice boxes were up 66 cents at $362.77, while Select was $1.95 higher to $347.33. USDA federally inspected cattle slaughter for last week was estimated at 557,000 head. That was 2,000 head above last week but 54,571 below the same week last year.
