Chicago Mercantile Exchange live cattle futures were modestly to
sharply lower on the lower midday boxed beef and unconfirmed reports of a
higher Chinese tariff on U.S. beef. The USDA’s Cattle on Feed report looks
mostly neutral to slightly bullish, with placements at the low end of analysts’
estimates. August was down $.35 at $104.62 and October was $1.70 lower at
$99.40.
Feeder cattle were pressured by the same factors as the live pit.
Continue reading Hog futures down on demand concerns at Brownfield Ag News.
