At the Chicago Mercantile Exchange, cattle futures ended the day lower on lower cash trade and pressure from outside markets. Weak wholesale values were also a negative influencer. October live cattle closed $1.27 lower at $112.07 and December live cattle closed $.67 lower a t$116.47. October feeder cattle closed $1.05 lower at $155.90 and November feeder cattle closed $1.32 lower at $156.27.
A light direct cash cattle trade developed in parts of Iowa and Nebraska this afternoon at mostly $174 – which is roughly $1 less than last week’s weighted average basis in Nebraska.
Continue reading Outside markets pressure hog, cattle futures at Brownfield Ag News.
