Cattle Futures Slump Amid Fund Liquidation and Higher Corn Prices

Cattle futures remain under pressure due to fund liquidation and higher corn prices. At the Chicago Mercantile Exchange, live cattle closed $2.65 lower at $210.95 in October, while December lean hogs were down $2.07 at $212.12.

A light round of direct cash cattle trade was reported on Tuesday, with dressed deals in Nebraska marked at $345 for delayed delivery, which is about $10 lower than the prior week's business.

The feeder market continues to operate under significant pressure, with feeder cattle of all weights sold with a sharply lower undertone at the Callaway Livestock Center in Missouri. Receipts were up from the most recent sale but down on the year.