Cattle futures higher on follow-through buying

Cattle futures higher on follow-through buying

At the Chicago Mercantile Exchange, live cattle ended the day higher on follow-through buying and stronger wholesale values during the session.  Feeder cattle were higher on the same factors with support from the day’s lower move in corn.  February live cattle closed $1.37 higher at $120.82 and April live cattle closed $1.80 higher at $120.32.  March feeder cattle closed $2.20 higher at $138.25 and April feeder cattle closed $2.42 higher at $141.37. 

A quiet end to the

week for direct cash cattle trade.  Dressed

deals in the North at $190, $3 lower than last week’s weighted average basis in

Nebraska.  Wednesday’s business was

mostly in the South with live deals at $118 to $119, $2 to $3 lower than the prior

week’s weighted average basis. 

In Missouri this week, compared to last week steer and heifer calves were steady to $5 higher, with spots up to $10 higher on the attractive calves with good condition. 

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