At the Chicago Mercantile Exchange, live and feeder cattle were sharply higher on oversold signals ahead of the week’s direct business. Feeders had additional support from the lower move in corn. June live cattle closed $2.35 higher at $173.82 and August live cattle closed $2.37 higher at $171.12. May feeder cattle closed $3.80 higher at $238 and August feeder cattle closed $4.27 at $249.77.
Direct cash cattle trade was quiet Monday. Bids and asking prices didn’t surface.
