At the Chicago Mercantile Exchange, live cattle futures closed mixed in limited trade volume as the market awaits direction from the cash trade. Feeder cattle futures were pressured by the continued higher move in corn. June live cattle closed $.37 higher at $111.55 and August live cattle closed $.17 lower at $107.77. August feeder cattle closed $1 lower at $142.22 and September feeders closed $1.20 lower at $142.67. Direct cash cattle trade is quiet with bids and asking prices not yet established. There were just a handful of deals in Iowa at $186 dressed, but near enough to establish a trend for the week. Showlists for the week are mixed – higher in Kansas, steady to slightly lower in Texas, and lower in Nebraska and Colorado. Business could follow the trend of recent weeks, with the majority happening on Wednesday.
Continue reading Cattle, hog futures off to a slow start at Brownfield Ag News.
