National Ag News

At the Chicago Mercantile Exchange, cattle futures were sharply lower across the board.  The disappointing cash trade and additional long liquidation pressured contracts.  The continued downward movement in live cattle could draw additional liquidation in all cattle markets.  August live cattle closed $2.35 lower at $107.12 and October live cattle closed down $2.10 at $106.22.  August feeder cattle closed down $1.77 at $140.47 and September feeder cattle closed $2.40 lower at $140.72.

Direct cash cattle trade was light in several areas with dressed trade at $8 to $10 lower than last week’s weighted average basis in Nebraska and steady to $4 lower than yesterday’s business. 

Continue reading Cattle futures down on cash pressure at Brownfield Ag News.