April 20, 2018 / 7:35 PM / 3 months ago

LIVESTOCK-Cattle futures rise on strong cash markets

CHICAGO, April 20 (Reuters) - Chicago Mercantile Exchange live cattle futures rose on Friday, with nearby contracts supported by firm cash markets and strong wholesale beef values, traders said.

Deferred offerings rose as traders covered short positions ahead of the U.S. Agriculture Department’s monthly cattle on feed report.

The report, released after the close of the market showed the amount of cattle on feed as of April 1 at 107 percent of year-ago levels, in line with market expectations.

April live cattle closed 1.550 cents per pound higher at 119.350 cents. June ended up 0.725 cents at 103.725 cents.

April CME feeder cattle rose 0.075 cents per pound to 137.300 cents.

May hogs closed down 0.200 cent per pound at 69.950 cents. Most actively traded June dropped 0.525 cent to 78.550 cents. (Reporting by Mark Weinraub Editing by Tom Brown)

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