At the Chicago Mercantile Exchange, live and feeder cattle were lower ahead of widespread direct business. Feeders had some pressure from the mostly higher move in corn. August lives closed $1.87 lower at $174.95 and October lives closed $1.45 lower at $177.87. August feeders closed $3.20 lower at $244.70 and September feeders closed $3.22 lower at $248.15.
It was another quiet day for direct cash cattle business. Bids and asking prices didn’t surface Wednesday. Showlists are higher across all major feeding areas for the week. Look for significant trade volume to take place sometime Thursday or Friday.
