At the Chicago Mercantile Exchange, live cattle were mostly lower and feeders were lower ahead of widespread direct cash business. August live cattle closed $.22 lower at $123.30 and October live cattle closed $1 lower at $128.12. August feeder cattle closed $.62 lower at $156.57 and September feeder cattle closed $1.07 lower at $160.92.
Direct cash cattle trade activity was relatively quiet on Tuesday. There were a few asking prices that surfaced in the South at $124 live. Bids were few and far between. It’s likely significant trade volume will take place in the latter half of the week.
