Chicago Mercantile Exchange live cattle were up and feeders were sharply higher, preparing for the week’s direct business and Wednesday’s USDA Cattle Inventory report. The trade thinks those semi-annual numbers could be bullish, but there is always the chance of a bearish surprise. February live was $.65 higher at $178.02 and April was up $.52 at $181.75. March feeders were up $2.70 at $241.32 and April was $2.40 higher at $247.00.
It was another very quiet day in cash cattle country on Tuesday with bids and asking prices yet to be established.
