Chicago Mercantile Exchange live and feeder cattle futures were sharply higher, supported by the sharply higher direct business during the session, along with the USDA’s neutral to bullish Cattle Inventory numbers. Feeders had additional support from the modestly lower move in corn. February live was up $2.40 at $179.75 and April was $2.47 higher at $183.17. March feeders were $4.72 higher at $244.87 and April was up $4.37 at $250.52.
Cash cattle country had some light live trade reported in parts of Texas at $178, $3 higher than last week’s weighted average.
