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Live cattle futures posted $1.40 to $2.50 losses mid day. Cash trade was reported at $350-355 dressed in the North this week with a few $224 live bids in the South. The Thursday Fed Cattle exchange online auction showed no sales on the 1,514 head offered with $222-223 bids. Feeder cattle futures were down $3.12 to $4.37 at midday. The CME Feeder Cattle Index were back up $1.16 on Sept. 15 to $342.74, reported Austin Schroeder with Barchart.
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In weighted average negotiated prices for barrows and gilts, the USDA reported:
Boxed beef cutout values this afternoon were up on Choice and up on Select, USDA said.
“The close in new low ground keeps the clear edge with the bears but with managed money traders already holding a significant net short, downs…
“Feeder auctions this week have been strong, and yesterday’s pullback may be a normal technical correction,” the Hightower Report said. “…The …
The Hightower Report said, “The cattle complex closed modestly weaker yesterday and October live cattle closed in the lower quarter of the day…
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