At the Chicago Mercantile Exchange, live cattle futures closed weak ahead of widespread direct cash business and steady to sharply lower wholesale values. Feeder cattle futures were pressured by the day’s higher move in corn. December live cattle closed $.05 lower at $117.07 and February live cattle close d$.15 lower at $122.20. November feeder cattle closed $.80 lower at $152.50 and January feeder cattle closed $.85 lower at $149.70.
Direct cash cattle trade is running out of time as both buyers and sellers are in a standoff.
Continue reading Cattle futures pressured by lower wholesale values at Brownfield Ag News.
