At the Chicago Mercantile Exchange, cattle futures closed lower ahead of the Cattle on Feed report and significant cash business. Heavy supplies were anticipated, but the report showed placements 5 percent lower, which could provide support to deferred contracts. The USDA will release Cold Storage numbers on Monday, which will show just how much product is moving. December live cattle closed $.40 lower at $116.787 and February live cattle closed $.22 lower at $121.15. November feeder cattle closed $.32 lower at $154.10 and January feeder cattle closed lower at $148.75.
Continue reading Supply concerns pressure cattle, hog futures at Brownfield Ag News.
