At the Chicago Mercantile Exchange, live cattle closed mostly higher on short covering ahead of widespread direct cash business. Trade volume was light. Feeder cattle were mostly lower, pressured by supply and demand concerns. August live cattle closed $.67 higher at $108.62 and October contracts closed $1.10 higher at $110.47. August feeder cattle closed $.87 higher at $152.30 and September contracts closed $.35 higher at $152.17.
The direct cash cattle trade standoff continued into late in the day Friday.
Continue reading This week’s lower wholesale values pressure hog futures at Brownfield Ag News.
