At the Chicago Mercantile Exchange, cattle futures closed lower on technical pressure. Long liquidation and the lack of support from the cash and wholesale markets are pressuring prices. There is still concern over the amount of beef entering the market. June live cattle closed $1.15 lower at $101.82 and August live cattle closed $1.35 lower at $99.05. May feeder cattle closed $.82 lower at $132.72 and August feeder cattle closed $1.72 lower at $136.72.
A light round of trade surfaced in most areas on Wednesday.
Continue reading Hog futures up on strong retail values at Brownfield Ag News.
