At the Chicago Mercantile Exchange, live cattle futures contracts saw some significant losses on follow-through selling and technical pressure. The ongoing battle with Mother Nature continues to create more challenges moving numbers. April live cattle closed $1.20 lower at $128.35 and June live cattle closed $.62 lower at $119.80. March feeder cattle closed $.02 lower at $141.20 and April feeder cattle closed $.02 lower at $145.02.
Direct cash cattle trade activity is quiet. The majority of Monday’s business was limited to the evaluation of showlists, which appear to be mixed – higher in Nebraska and Texas, but lower in Kansas and Colorado. It’s likely significant trade volume will be delayed until the latter half of the week.
Continue reading Cattle, hog futures start the week choppy at Brownfield Ag News.
