Chicago Mercantile Exchange live cattle futures were higher, watching direct cash business develop and getting ready for the upcoming USDA Cattle on Feed numbers out Friday at 3 Eastern/2 Central. On average, most analysts expecting an increase in marketings against a decrease in placements. There was also some support tied to the recent boxed beef trend. April was $.05 higher at $128.95 and June was up $.72 at $120.35.
Feeder cattle were sharply higher on commercial buying, the lower corn, and position squaring ahead of the USDA’s next set of on feed numbers.
Continue reading Cattle futures up ahead of USDA numbers at Brownfield Ag News.
