At the Chicago Mercantile Exchange, live and feeder cattle closed higher on oversold signals ahead of wide-spread direct cash business. October live cattle closed $1.85 higher at $124.12 and December live cattle closed $2.50 higher at $129.65. September feeder cattle closed $3.07 higher at $155.27 and October feeder cattle closed $2.70 higher at $158.15.
Another quiet day for direct cash cattle trade activity. Bids and asking prices have been slow to surface. It’s likely significant trade volume will be delayed until midweek or later.
