According to DTN- “Southern live cattle have traded at mostly $242 ($2.00 higher than last week’s weighted average) and Northern dressed cattle have traded at mostly $385 ($1.00 lower than last week’s weighted average). That $242 was reported by the Texas Cattle Feeders, who represent feedlots in Texas, Oklahoma and New Mexico.
The live cattle futures pushed further into uncharted territory in the final trading day of August- October live cattle closed $2.72 higher at $239.65, December live cattle closed $2.17 higher at $240.77 and February live cattle closed $2.30 higher at $242.25.
The feeder cattle contracts also closed higher, as traders were more than willing to advance the contracts as they were no longer up against the market’s resistance threshold. And as demand remains red-hot in the countryside, traders had more than enough support to justify the contracts’ higher move. September feeder closed $2.97 higher at $364.77, October feeders closed $2.95 higher at $364.47 and November feeders closed $3.57 higher at $363.60.
The Oklahoma Weekly Cattle Auction Summary shared that compared to last week, feeder steers over 800 pounds sold $2.00 to $8.00 higher, but steers under 800 pounds traded $10.00 to $13.00 higher. Steer calves sold $1.00 to $7.00 higher. Feeder heifers and heifer calves traded steady to $5.00 higher.
