At the Chicago Mercantile Exchange, cattle futures closed sharply lower under pressure from last week’s less than cash trade and long liquidation. Concerns about the large supply and beef demand leveling off also added pressure to prices. December live cattle closed $1.75 lower at $115.32 and February live cattle closed $1.55 lower at $120.65. November feeder cattle closed $3.00 lower at $149.50 and January feeder cattle closed $3.32 lower at $146.42.
Direct cash cattle trade started the week off slow with just a handful of trade reported in parts of the south at $178 to $180 dressed.
Continue reading Cattle futures pressure by weak cash trade at Brownfield Ag News.
