At the Chicago Mercantile Exchange, live and feeder cattle closed lower watching the week’s direct cash business develop.  February live cattle closed $1.10 lower at $136.57 and April live cattle closed $.67 lower at $140.52.  March feeder cattle closed $1.32 lower at $165.02 and April feeder cattle closed $1.35 lower at $168.77. 

There was a light direct cash cattle trade that took place on Wednesday.  Deals were mostly in the North at $218 dressed, $2 lower than last week’s weighted average basis in Nebraska. 

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