At the Chicago Mercantile Exchange, live cattle closed higher and feeders were mostly lower, both watching corn and direct cash business develop. June live cattle closed $1.40 higher at $116.75 and August live cattle closed $1.30 higher at $119.72. May feeder cattle closed $.72 lower at $137.20 and August feeder cattle closed $.82 lower at $151.92.
Another round of light direct cash cattle developed on Tuesday. Live deals in parts of the South were at $120, that’s $1 higher than last week’s weighted averages.
