At the Chicago Mercantile Exchange, live and feeder cattle closed higher ahead of Friday’s Cattle on Feed report and support from the higher boxed beef prices at midday. Feeder cattle had additional support from the day’s lower move in corn. October live cattle closed $.87 higher at $108.02 and December live cattle closed $1.07 higher at $112.27. September feeder cattle closed $.45 higher at $142.45 and October feeders closed $.75 higher at $142.27.
It took a little longer for direct cash cattle trade activity to develop, but it looks to be worth the wait.
