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.
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