At the Chicago
Mercantile Exchange, cattle futures ended the day with moderate gains on
technical buying. April closed $.72
higher at $127.40 and June closed $1.02 higher at $120.35. March closed $.45
lower at $141 and April closed $.52 higher at $144.65.
Direct cash cattle trade activity is quiet, as severe weather has moved in much of cattle country. There was a light to moderate trade that developed Wednesday at $127 live and mostly $204 dressed. Both are $1 lower than the previous week’s weighted averages. Asking price for cattle left on showlists are $130 live and $206 dressed. Business in the South has yet to develop.