At the Chicago Mercantile Exchange, strengthening fundamentals helped push cattle futures higher. Today’s move up was supported by the USDA’s Supply/Demand Report. Beef production for 2018 was reduced by 420 million pounds from last month. June live cattle closed $1.85 higher at $107.52 and August live cattle closed up $.92 at $104.30. May feeder cattle closed $1.45 higher at $138.60 and August feeder cattle closed $1.25 higher at $143.95.
Direct cash cattle trade has been quiet.
Continue reading Cattle futures supported by latest Supply/Demand report at Brownfield Ag News.
