At the Chicago Mercantile Exchange, cattle futures ended the day sharply lower ahead of widespread direct business. They were also pressured by poor export data and heavy supply concerns. August live cattle closed $1.07 lower at $107.95 and October contracts closed $1.40 lower at $109.37. August feeder cattle closed $1.40 lower at $151.42 and September feeder cattle closed $1.42 lower at $151.82.
Direct cash cattle trade is headed to another Friday standoff. The wide spread between bids and asking prices is pushing business down to the wire.
Continue reading Supply concerns weigh heavily on cattle, hog futures at Brownfield Ag News.
