Cattle Futures - Live Cattle Mixed
US - Live cattle ended mixed but mostly slightly higher after trading in choppy fashion throughout the session. Uncertainty about beef demand and speculation that boxed beef prices may have hit a near-term top were offset by concerns of wintry weather in the Plains and ideas by some traders that this week's cash trade could be steady to possibly higher.
15 February 2008
1 minute read
Man Financial was a buyer in February live cattle late in the session against selling by locals. Rosenthal-Collins was a buyer in April and June cattle, while locals also were sellers in those months.
Feeder cattle fell amid pressure from sharply higher corn prices. All feeder contracts were lower, with March down 52 points at 104.42 cents. April fell 55 points to close at 108.17 cents.
R.J. O'Brien was a seller in May feeders late in the session.
An analyst said the feedyards are forced to pay less for replacement cattle when corn prices are higher.
Source: FXSTREET
