At the Chicago
Mercantile Exchange, cattle futures ended the day higher on optimism ahead of
the cash trade and spillover support from the surging lean hog futures. Cattle on Feed and Cold Storage numbers come
out Friday afternoon. April live cattle
closed $.32 higher at $129.90 and June contracts closed $.52 higher at
$123.90. April feeder cattle closed $.60
higher at $148.92 and May feeder cattle closed $1.87 higher at $154.00.
Direct cash cattle
trade is at a complete standstill. Bids
started to surface at $126 live in Texas and $204 dressed in
Nebraska. Asking prices are holding firm
at $130 to $132 live and $210 dressed.
Significant trade volume will likely hold off until after the latest
Cattle on Feed report which comes out Friday.
Continue reading Hog futures continue their surge on demand hopes at Brownfield Ag News.
