USA: Cattle, lean hog futures kickoff the week lower

At the Chicago Mercantile Exchange, live and feeder cattle futures were lower, getting ready for widespread direct business and Friday’s USDA Cattle on Feed Report. April live was down $.72 at $163.55 and June was $.45 lower at $158.20. April feeders were $.57 lower at $197.07 and May was down $1.17 at $202.40. Direct cash cattle trade ended Monday quiet. Formula totals for last week were higher in all three major feeding states: Kansas, Nebraska and Texas. Total trade volume was mixed, higher in the South, but lower in Nebraska: New showlists appear to be somewhat lower in Texas, and lower in Kansas and Nebraska/Colorado. Bids and asking prices have yet to be established, and significant trade volume will likely be delayed until late in the week. At the Oklahoma National Stockyards, compared to last week, feeder cattle and calves steady, however steers over 800 pounds and heifers over 700 pounds were not well tested. Steer and heifer calves were steady. The USDA says demand was ...