Cattle futures fall after stronger start; close down 1.2%
Live cattle closed down 1.2% to $2.1935 a pound after earlier strength faded, surprising traders who had expected further gains following the last Cattle on Feed report.
Live cattle gave back early strength after the latest Cattle on Feed report, finishing down 1.2% at $2.1935 a pound. Analysts had expected cattle futures to keep climbing this morning, so the decline came as a surprise to traders. The USDA and Texas' De…