CME: Futures Close Down to April With Far Deferreds Mixed10 September 2013
US - Futures were weaker yesterday with losses of five to 31.5 cents until April with far deferred contracts ending mix.
October live cattle closed at $125.35, down 32 cents.
December cattle closed moderately lower on the session and experienced the worst close since August 7th, write analysts at CME.
The market traded slightly higher early in the session today with the cash trade news after the close Friday helping to provide some light support.
Weakness in beef and a sluggish demand outlook plus continued talk that near-term supply is still ample helped to pressure the market into the mid-session with futures moving slightly lower on the day.
Cash cattle traded steady on the week at $123.00 in Texas and Kansas last week.
Boxed-beef cut-out values at mid-session were down 73 cents to $194.50 from $195.67 last week.
Slaughter came in below trade expectations at 117,000 head.
TheCattleSite News Desk