National Ag News

Chicago Mercantile Exchange live cattle futures were sharply lower on the sharply lower midday boxed beef and profit taking. Monday’s gains were done in pretty low volume, without a lot of fundamental backing. Live and feeder cattle both had expanded trade limits. June was down $1.87 at $119.60 and August was $3.25 lower at $115.02.

Feeder cattle were sharply lower on the drop in midday boxed beef and profit taking. Contracts were overbought following Monday’s jump, especially considering last week’s on feed numbers and the recent firm to higher trend in corn.

Continue reading Cattle futures pressured by beef, profit taking at Brownfield Ag News.