Cattle, hog futures lower heading into Friday

Cattle, hog futures lower heading into Friday

At the Chicago Mercantile Exchange, live and feeder cattle were down, watching direct markets and waiting for widespread direct business to develop. June live cattle closed $.52 lower at $175.85 and August lives closed $.50 lower at $173.72.  August feeders closed $1.35 lower at $251.05 and September feeders closed $1.32 lower at $252.07.

A very light direct cash cattle trade developed Thursday.  Live deals were at $185 in Texas, that’s about $1 higher than the previous week’s weighted averages.  Asking prices were firm at $186 to $187 live in the South and around $297-plus dressed in the North.  Look for more business to develop over the balance of the week.

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