Chicago Mercantile Exchange live and feeder cattle futures were sharply higher on an oversold bounce ahead of this week’s direct trade, shrugging off the firm corn and lower midday beef. February live was up $1.90 at $168.97 and April was $1.80 higher at $171.50. January feeders were $4.17 higher at $214.70 and March was up $3.90 at $217.47.
Direct cash cattle trade was mostly quiet on Tuesday with just a few early asking prices noted in parts of the South at $175-plus.
