At the Chicago Mercantile Exchange, cattle futures closed lower on profit-taking. Expanding available numbers, tightening packer margins, and weaker wholesale beef values are all adding pressure. June live cattle closed $1.37 lower at $108.65 and August contracts closed $1.60 lower at $104.17. August feeder cattle closed $1.32 lower at $145.95 and September contracts ended the day $1.17 lower at $147.25.
It’s a quiet start to this week’s direct cash cattle trade following the distribution of new showlists.
Continue reading Tightening packer margins pressuring cattle futures at Brownfield Ag News.
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