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Barchart
Austin Schroeder

Cattle Traders Look to Square Up Ahead of USDA Report

USDA Fed Cattle Exchange Feeder Cattle Live Cattle

Live cattle futures fell back ahead of the Friday report, as contracts were steady to 77 cents in the red at the close. Open interest was down 624 contracts on Thursday. Cash trade has yet to be reported this week. The Thursday Fed Cattle Exchange online auction showed no sales on the 1,884 head offered, with a few bids of $224. Feeder cattle futures were down $1.50 to $2.05 on the day, as traders squared up ahead of the Friday Cattle on Feed report. OI was up 827 contracts on Thursday. The CME Feeder Cattle Index was back down $1.29 on October 19 to $342.16.

The monthly NASS Cattle on Feed report will be released on Friday, with traders surveyed by Reuters looking for September placements to be down 7.4% from a year ago and marketings down 7%. October 1 on feed is expected to be up 0.3% from last year.

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