Live cattle futures were down 22 cents to $1 on the Tuesday session. Open interest was down just 9 contracts, suggesting a rotation of ownership. Cash trade was quiet on Monday, as trade was $222-223 live and $345 dressed action in the North last week, with some southern action near $226. Feeder cattle futures posted mostly lower trade, as contracts were down 20 cents to $1.05 with January a dime higher. Open interest was up just 323 contracts, mainly January and beyond. The CME Feeder Cattle Index was another $2.85 higher on October 12 to $341.47.
Tuesday’s Crop Progress report showed the US pasture rating at 22% gd/ex, down 1% on the week. The Brugler500 index was steady at 257.
