At the Chicago
Mercantile Exchange, live cattle futures closed lower on the weaker cash trade
and supply concerns. Feeder cattle futures
were lower on technical pressure and the day’s firm moves in corn. April live cattle closed $2.72 lower at
$124.05 and June live cattle closed $2.97 lower at $115.37. May feeder cattle closed $2.97 lower at
$143.55 and August feeder cattle closed $3.47 lower at $153.25.
A light to moderate direct cash cattle trade developed in parts of the North. Deals in Nebraska and Colorado were reported at $127 live, that’s roughly $3 lower than last week’s weighted averages. Dressed deals in Nebraska were also $3 below last week’s weighted averages at $205. Some cleanup business could still happen – but it looks like trade is essentially wrapped up for the week.
Continue reading China’s cancellation of pork drives prices lower at Brownfield Ag News.
