National Ag News
Hog, cattle futures start the week on a positive note
At the Chicago Mercantile Exchange, live cattle futures ended the day higher, contracts were oversold and due for a bounce. There is also some expectation of a stronger cash trade this week. Feeder cattle futures ended the day higher on the same factors. August live cattle closed $1.35 higher at $105.62 and October lives closed $1.22 higher at $106.70. August feeder cattle closed $1.40 higher at $136.92 and September feeders closed $1.37 higher at $137.17. Direct cash cattle trade is off to a slow start. Bids and asking prices have yet to surface. This week’s showlists are mixed – larger in Texas, Nebraska, and Colorado, but smaller in Kansas. Packers remain extremely short-bought so we could start to see business begin earlier in the week. But, significant trade volume could also be delayed until the latter half of the week.
Continue reading Hog, cattle futures start the week on a positive note at Brownfield Ag News.
