At the Chicago Mercantile Exchange, cattle futures closed lower on profit-taking after Friday’s impressive showing. The heavy cattle inventory combined with demand uncertainties creates a negative tone for the market. August live cattle closed $.27 lower at $110.40 and October contracts closed $.45 lower at $111.55. August feeder cattle closed $1 lower at $151.85 and September feeders closed $1.17 lower at $151.85.
Direct cash cattle trade is quiet following the distribution of new showlists.
Continue reading Cattle futures lower on profit taking at Brownfield Ag News.
