At the Chicago Mercantile Exchange, live and feeder cattle were lower watching direct business develop with pressure from lower boxed beef prices. October live cattle closed $.25 lower at $124.77 and December live cattle closed $.25 lower at $129. October feeder cattle closed $.92 lower at $157.65 and November feeder cattle closed $.82 lower at $160.97.
A light to moderate direct cash cattle trade took place on Wednesday. Live deals in the South were at $124, fully steady with last week’s weighted averages.
