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Live cattle futures closed lower as a sharp sell-off in hog contracts dragged prices down. June live cattle closed $1.15 lower at $112.27 and May feeder cattle $1.12 lower at $136.02.
Feeder cattle prices at the Oklahoma National Stockyards were mostly steady to $2 lower on moderate demand.
A broad sell-off in hog futures on demand worries pressures the overall livestock complex and weakens feed-buying sentiment. Lower futures prices point to bearish near-term pressure on cattle and hog markets.
brownfieldagnews.comMeghan GrebnerMay 6, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
On May 6 live cattle fell $1.15 as a hog sell-off spilled over into cattle, adding to the final-day decline in the window.
