Live cattle futures rebounded higher on Monday with contracts up $1.60 to $1.82. There were no new deliveries on Monday for October live cattle. Cash trade settled in at $240-241 across the country last week. Feeder cattle futures closed out the Monday session with contracts mixed, as front months were back up 97 cents to $1 and other contracts slipping lower. The CME Feeder Cattle Index was back down 36 cents at $376.15 on October 17. The Monday OKC feeder cattle auction had an estimated 6,800 head sold, with feeders down $5-15. Steer calves were steady with lighter weights up $10-20 and heifer calves down $5-15.
Late on Sunday President Trump was considering buying beef from Argentina, in reference to last week’s comments to lower beef prices.
