At the Chicago Mercantile Exchange, cattle futures remain overbought. The lack of direction from the cash trade, weak wholesale values, and the less than stellar Fed Cattle Exchange added pressure to prices. October live cattle closed $.77 lower at $113.20 and December live cattle closed $1.07 lower at $118.40. October feeder cattle closed $1.20 lower at $157.87 and November feeder cattle closed $.80 lower at $158.77.
Direct cash cattle trade has been at a virtual standstill.
Continue reading Demand concerns pressure hog futures at Brownfield Ag News.
