At the Chicago Mercantile Exchange cattle futures closed sharply lower on technical selling. While demand typically increases this time of year, the trade is worried about increased production. June live cattle closed $.87 lower at $105.17 and August live cattle closed $.97 lower at $104.10. May feeder cattle closed $2.77 lower at $137.62 and August feeder cattle closed $2.62 lower at $143.70.
Direct cash cattle trade was quiet for the most part. However, two large strings sold in Nebraska at $190 dressed and Texas at $120 live.
Continue reading Cattle futures lower on supply concerns at Brownfield Ag News.
