At the Chicago
Mercantile Exchange, live cattle closed higher ahead of widespread direct cash
business, anticipating higher trade.
Feeder cattle were higher on the same factors. December live cattle closed $.62 higher at
$123.27 and February live cattle closed $.97 higher at 126.80. January feeder cattle closed $1.87 higher at
$145.45 and March feeders ended the day $1.50 higher at $145.17.
Direct cash cattle
trade is quiet following the midweek holiday.
There were a handful of deals in Iowa late Tuesday at $120 live, but not
much activity since. Ahead of the
holiday – asking prices were at $123 live in the South and $195 + dressed in
the North. It appears feeders are
holding out for higher prices and significant trade volume will be delayed until
later in the day Friday.
In Kansas last week, compared to the prior week, feeder steers were steady to $5 higher.
Continue reading Cattle futures higher, waiting for cash business at Brownfield Ag News.
