National Ag News

At the Chicago Mercantile Exchange, live cattle futures closed lower on weak wholesale values and a less than stellar cash trade.  Feeder cattle were lower on the same factors.  The Cattle on Feed report was neutral to slightly bearish.  While the report showed the largest June 1 inventory since the reports began in 1996, it did come toward the upper end of pre-report estimates.  August live cattle closed $1.72 lower at $102.22 and October live cattle closed $1.42 lower at $104.15.  August feeder cattle closed $1.02 lower at $133.67 and September feeder cattle closed $1.32 lower at $134.05.  Direct cash cattle trade finished the week quietly with just a handful of clean-up business reported. 

Continue reading Cattle, hog futures end week lower at Brownfield Ag News.