National Ag News
Hog futures take a nosedive
At the Chicago
Mercantile Exchange, cattle futures were drug lower on spillover pressure from
hog futures. The lack of support from
the direct cash trade and wholesale values didn’t help support contracts
today. April live cattle closed $.10
higher at $125.90 and June contracts closed $.22 lower at $120.35. April feeder cattle closed $.57 lower at $146.15
and May contracts closed $.40 lower at $150.17.
Direct cash cattle
trade activity got an earlier start than normal this week. The winter-like weather in the forecast for
later in the week likely has jump-started activity. There are a few scattered bids on the table
in Kansas and Nebraska at $124 live and $203 dressed. Asking prices have surfaced in the South at
$124 to $125 live. The Fed Cattle
Exchange has an offering of 510 head. Look
for significant trade volume to develop in the second half of the week.
At the Tri-State Livestock Auction in Nebraska – receipts were up on the week and the year.
Continue reading Hog futures take a nosedive at Brownfield Ag News.
