At the Chicago
Mercantile Exchange, live cattle ended the day lower ahead of Friday’s cattle
on feed report. Markets were also
pressured by the day’s steady to lower cash trade. Feeder cattle were lower on the same factors
as the live pit, with additional pressure from the day’s higher move in corn. February live cattle closed $1.50 lower at
$124.67 and April live cattle closed $2.60 lower at $124.17. January feeder cattle closed $1.15 lower at
$142.77 and March feeders closed $2.52 lower at $140.52.
Another light round
of direct cash cattle trade was reported.
Business in the North was at $198 to $199, steady to $1 lower than last
week’s weighted average basis in Nebraska.
Some clean-up trade was reported in the South at $124, fully steady with
this week’s previous business and last week’s averages. Look for the remainder of this week’s trade
to happen sometime on Friday.
Continue reading Hog futures higher on demand hopes at Brownfield Ag News.
