At the Chicago
Mercantile Exchange, live cattle futures were mixed in a narrow range ahead of
widespread direct cash business and concerns about long-term demand. Feeder cattle were mixed on the same factors
with some support coming from the day’s weak move in corn. August
live cattle closed $.25 lower at $108.65 and October live cattle were unchanged
at $109.90. August feeder cattle closed
$.02 lower at $142.80 and September feeder cattle closed $.35 higher at $143.22.
Direct cash cattle
trade activity was at a near standstill.
We saw a few bids floated in Nebraska at $109 to $111 live and
$180 to $182 dressed. Asking prices are
around $113 plus live in the South and $186 plus dressed in the North. It looks like the majority of this week’s
business will be delayed until the end of the week.
At the Mitchell Livestock Auction in South Dakota, receipts were up on the week and the year.
Continue reading Lean hogs drop on profit-taking at Brownfield Ag News.
