Chicago Mercantile Exchange live and feeder cattle were sharply lower on fund liquidation and technical selling, waiting for widespread direct business to get established. December live was down $2.55 at $178.77 and February was $3.55 lower at $178.42. January feeders were $5.60 lower at $230.82 and March was down $5.85 at $233.25.
Cash cattle country was very quiet on Tuesday without even a token bid on the table. Asking prices have not been established and significant trade volume is expected to be delayed until the second half of the week.
