At the Chicago Mercantile Exchange, live cattle futures closed mostly higher except for the nearby contracts which couldn’t bounce back from early losses. Cattle futures are supported by higher cash trade and retail beef prices – but a heavy cattle supply handcuffs any potential moves higher. June live cattle closed $.97 lower at $104.85 and August live cattle closed $.10 lower at $103.97. Feeder cattle also ended the day higher. May contracts closed $.72 higher at $138.62 and August feeder cattle closed $.97 higher at $144.45.
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