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.
Continue reading Cattle futures higher on follow-through buying at Brownfield Ag News.