Chicago Mercantile Exchange live cattle futures were sharply lower on technical selling, long liquidation, and position squaring ahead of the USDA’s Cattle on Feed report. The on-feed numbers were bearish, but very close to what analysts were expecting, and nearby live cattle contracts are at a discount to the most recent round of direct cash business, probably limiting some of the negativity. August was $1.70 lower at $106.25 and October was down $2.02 at $106.70.
Continue reading Hog futures up on short covering at Brownfield Ag News.
