At the Chicago Mercantile Exchange, live cattle future ended the day lower on follow through selling, position squaring ahead of Friday’s Cattle on Feed report, and the weak cash trade. Feeder cattle futures were lower on the same factors with additional pressure by the day’s higher move in corn. August live cattle closed $.60 lower at $103.95 and August live cattle closed $.52 at $105.57. August feeder cattle closed $1.82 lower at $134.70 and September feeder cattle closed $1.62 lower at $135.37. A moderate direct cash cattle trade has developed in the South at $110 live.
Continue reading Cattle futures lower ahead of Friday’s reports at Brownfield Ag News.
