At the Chicago Mercantile Exchange, live cattle futures ended the day firm on spill-over support from feeder cattle and lean hog futures. Strong wholesale values and the start of the month technical buying also helped firm up prices. Feeder cattle found support in the days limited moves in grain following the announcement that China would reenter the market. February live cattle closed $.27 higher at $125.72 and April live cattle closed $.72 higher at $127. March feeder cattle closed $1.70 higher at $144.22 and April feeder cattle closed $1.82 higher at $145.82.
Direct cash cattle trade is quiet. Bids and asking prices have yet to be established. This week’s showlists look to be higher in Kansas, Nebraska, and Texas, but lower in Colorado. Look for significant trade volume to be delayed until the latter half of the week.
At Mid-Session at the Joplin Regional Stockyards in Missouri, receipts are almost steady on the week and higher on the year.
Continue reading Cattle, hog futures supported by midday meats at Brownfield Ag News.
