At the Chicago Mercantile Exchange, live and feeder cattle were lower watching direct business develop. February live cattle closed $1.72 lower at $136.57 and April live cattle closed $1.07 lower at $140.92. January feeder cattle closed $1.15 lower at $163.42 and March feeder cattle closed $1.92 lower at $164.47.
There was a light direct cash cattle trade that took place on Wednesday. Dressed deals in the North were at $216 to $220, mostly $217 to $220, which steady to $3 lower than last week’s weighted average basis in Nebraska.
