PIXABAY
U.S. live cattle futures eased on Tuesday, as higher input costs could lead to near-term selling of cattle as producers are resistant to paying higher feed costs, traders said.
“You’ve got your cost of gains climbing and climbing,” Scott Varilek, broker at Kooima Kooima Varilek Trading Inc. told Reuters. “Could be some liquidation pressure on the front, without the incentive to keep feeding.”
Chicago Mercantile Exchange June live cattle futures settled 0.425 cent lower at 115.850 cents per pound.