Live cattle futures dropped $1 to $1.47 on Monday. Cash trade activity was quiet on August’s FND. USDA reported cash trading picked up on Friday with sales made mostly near $188 in the North and limited volume near $178 to $179 in the South.
Feeder cattle settled with $2.55 to $2.62 losses across the front months. USDA’s OKC Feeder Auction review mentioned decent demand with 6,500 head sold – 42% heifers and 51% over 600lbs. The CME Feeder Cattle Index for 8/3 increased by 90 cents to $245.84.
