Cattle Futures Plummet as Technical Pressure Takes Hold

Cattle futures declined at the start of the week on technical pressure and higher corn prices. At the Chicago Mercantile Exchange, October live cattle closed $4.32 lower at $213.60 and December live cattle fell by $4.30 to $214.20.

Feeders also dropped due to the increase in corn, with September feeder cattle closing $4.80 lower at $324.22 and October feeders decreasing by $5.37 to $318.27.

The direct cash cattle trade was quiet to begin the week, with showlists mixed across regions and no bids or asking prices reported.