At the Chicago Mercantile Exchange, cattle futures ended the day higher on short covering. Contracts were oversold after three days of sharply lower closes. Even though the cash trade has given futures contracts a negative tone, contracts are at a deep discount to cash. June live cattle closed $1.22 higher at $103.50 and August live cattle closed $.05 higher at $99.10. May feeder cattle closed $.37 higher at $133.10 and August feeder cattle closed $2.00 higher at $138.72.
Continue reading Cattle futures higher on short covering at Brownfield Ag News.
