Live cattle futures are down the $7.25 limit so far on Wednesday. The Central Stockyards Fed Cattle online auction showed no sales on the 1,228 head offered, with bids at $228-230.50. Outside of that, Northern sales were reported at 230-230.50, with $232 Southern sales. Feeder cattle are $9.25 lower across the board, as futures face limit losses. The CME Feeder Cattle Index was back up $3.46 to $346.79 on November 3.
Secretary Rollins met with the Mexican President on Tuesday, with the border expected to remain closed. She did comment that President Trump is still very focused on reopening the border. That may be sparking some more liquidation.
