At the Chicago Mercantile Exchange, live and feeder cattle closed lower, pressured by the weaker cash trade. Feeder cattle had additional pressure from the day’s higher move in corn. August live cattle closed $1.07 lower at $102.97 and October live cattle closed $.85 lower at $106.15. August feeder cattle closed $.50 lower at $141.97 and September feeder cattle closed $.55 lower at $141.22.
Direct cash cattle trade was sluggish on Thursday. Bids were anywhere from $104 to $105 live and $165 dressed, both below this week’s business.
