At the Chicago Mercantile Exchange, live cattle closed mostly higher ahead of widespread direct cash business and feeder cattle closed higher on the day’s mostly lower move in corn. February lean hogs closed $.02 lower at $114.97 and April live cattle closed $.22 higher at $119.50. January feeder cattle closed $.92 higher at $136.70 and March feeder cattle closed $1 higher at $137.57.
A light to moderate direct cash cattle trade developed on Thursday. Deals in the South were at $112 live, that’s generally steady with the bulk of last week’s business. Dressed business in Nebraska and Iowa had a full range of $174 to $180, mostly $176 to $177, generally steady to $1 higher than last week’s weighted average basis in Nebraska. Asking prices held firm around $114 to $115 live in the South and $180 dressed in the North.
