At the Chicago Mercantile Exchange, live and feeder cattle were lower, waiting for widespread direct cash business. October live cattle closed $1.32 lower at $180.50 and December lives closed $1.02 lower at $184.60. September feeders closed $1.80 lower at $250.10 and October feeders closed $1.55 lower at $251.85.
It appears direct cash cattle business is going to hold out until late in the week. Bids and asking prices didn’t surface on Wednesday. So far this week there’s been just a smattering of sales in the North with live deals marked at $185 in Iowa and $294 dressed in Nebraska.
