At the Chicago Mercantile Exchange, cattle futures ended the day lower on profit-taking following Monday’s impressive gains. Some short covering minimized today’s damage. August live cattle closed $.40 lower at $107.80 and October live cattle closed $.85 lower at $108.45. August feeder cattle closed $.87 lower at $149.35 and September feeder cattle closed $149.52.
Direct cash cattle trade is at a standstill. A few preliminary bids have developed in Nebraska at $106. Some showlists in Texas are priced around $111.
Continue reading Hogs, cattle lower on profit taking at Brownfield Ag News.
