The feeder cattle futures market closed at $244.10/cwt, reflecting steady consumption trends and moderate feed input expenses. Analysts mention this stability could support gradual price appreciation into early fall. Without that steady feed supply, farmers face higher costs and tighter margins at a time when drought and inflation have already cut deep. The October live cattle contract already has a discount to the current cash and the expected lower cash this week. This could limit further losses. On the CME, feeder cattle futures edged up 0.3% to $244.20/cwt. Traders cite favorable feed conversion ratios and declining hay prices as minor bullish factors heading into July auctions.
