At the Chicago Mercantile Exchange, live and feeder cattle were sharply lower, pressured by the day’s higher move in corn.  June live cattle closed $2.27 lower at $113.02 and August live cattle closed $1.72 lower at $116.62.  May feeder cattle closed $3.30 lower at $129.75 and August feeder cattle closed $3.62 lower at $143.17. 

There was a light to moderate direct cash cattle trade that developed across most feeding areas on Tuesday.  Live deals were at $117 to $119, that’s $1 lower to $1 higher than the bulk of last week’s business. 

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