At the Chicago Mercantile Exchange, cattle futures ended the day lower on profit taking and lack of follow through buying, despite the strong direction from the cash trade. Feeder cattle were pressured by the move higher in corn. Wholesale values also weren’t supportive. August live cattle unchanged at $106.37 and October contracts closed $.50 lower at $109.62. August feeder cattle closed $.37 lower at $152.20 and September feeders closed $.30 lower at $152.27.
A moderate to active direct cash cattle trade developed in most feeding areas.
Continue reading Hog futures drop on trade uncertainties at Brownfield Ag News.
