At the Chicago
Mercantile Exchange, live cattle ended the day higher ahead of widespread
direct cash business. News that a preliminary
trade deal with Japan has been signed is also supportive to prices. Feeder cattle closed higher on the same factors. October live cattle closed $.87 higher at $103
and December live cattle closed $1.07 higher at $108.50. October feeder cattle closed $.80 higher at
$142.45 and November feeder cattle closed $.92 higher at $141.12.
Direct cash cattle
trade activity is at a virtual standstill.
There were a handful of deals reported in Iowa at $162 dressed – that’s
not near enough to establish a trend.
Asking prices are holding firm at $104 to $105 live in the South and
$170 dressed in the North. It’s looking
like significant trade volume won’t develop until the end of the week.
At the Winter Livestock Market in Dodge City, receipts were down on the week and up on the year.
Continue reading Cattle, hog futures up on limited Japan deal at Brownfield Ag News.
