National Ag News
Cattle supported by technical buying ahead of widespread direct trade
Jan 17, 2018, 16:56 PM
by
System
Chicago Mercantile Exchange live cattle futures were higher on technical buying and cash optimism as traders get ready for widespread direct business. The gains, and trade volume, picked up steam as the session went on, which could help contracts hold at support points later, even with today’s finish just below the highs. February was up $2.87 at $120.97 and April was $2.40 higher at $122.77.
Feeder cattle were sharply higher on technical buying and cash optimism, along with a general lack of selling interest prior to this week’s direct trade.
