Live cattle futures are $2 to $2.35 higher so far on Monday. Cash trade settled in at $240-241 across the country last week. Feeder cattle futures are showing a rebound from the Friday limit losses, as contracts are up $1.60 to $2.50. The CME Feeder Cattle Index was up another $1.41 at $376.51 on October 16. The Monday OKC feeder cattle auction has an estimated 6,800 head for sale, with early demand noted as moderate. Both live and feeder cattle will have expanded limits ($10.75 and $13.75, respectively) today.
Late on Sunday President Trump was considering buying beef from Argentina, in reference to last week’s comments to lower beef prices.
