National Ag News
Cattle futures close sharply lower on profit-taking
Nov 2, 2017, 17:01 PM
by
System
At the Chicago Mercantile Exchange, cattle futures closed sharply lower on profit-taking. Despite positive cash fundamentals, the market sensed the futures premium to cash was too wide. December live cattle closed $2.27 lower at $124.32 and February live cattle closed $1.30 lower at $128.75. November feeder cattle closed $1.77 lower at $157.92 and January feeder cattle closed $2.42 lower at $158.22.
Direct cash cattle trade has been fairly quiet with a few scattered bids across all feeding areas.
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