At the Chicago Mercantile Exchange, live closed mostly higher ahead of widespread direct cash business and feeders were pressured by the day’s sharply higher move in corn. April live cattle were unchanged at $120.97 and June live cattle closed $.67 higher at $122.90. April feeder cattle closed $2.95 lower at $143.87 and May feeder cattle closed $2.80 lower at $149.40.
Direct cash cattle trade activity was quiet on Wednesday with limited packer inquiry. A few bids surfaced at $118 live and $184 dressed. Asking prices are around $118 to $120 live in the South and $192 dressed in the North. Look business to pick up over the balance of the week.
