Trading contracts for cattle experienced declines at the Chicago Mercantile Exchange as market participants held back, anticipating the development of direct business activity and the release of Friday’s On Feed report from the U.S. Department of Agriculture.
Live cattle contracts for April delivery dropped $1.42 to settle at $242 per hundredweight, while June contracts fell $1.35 to close at $237.52. Feeder cattle also saw significant losses, with March contracts declining $2.25 to finish at $368.02 per hundredweight, and April contracts posting similar decreases.
The market pullback reflects trader caution as they await key industry data that could influence future pricing trends in the livestock sector.
