At the Chicago Mercantile Exchange, live and feeder cattle closed lower watching direct business develop.  August lives closed $.55 lower at $132.17 and October lives closed $.50 lower at $138.90.  August feeders closed $1.10 lower at $170.72 and September feeders closed $1.17 lower at $173.77. 

There was a light to moderate direct cash cattle trade that took place on Wednesday.  Live deals in the South were at $138, that’s steady in Texas but about $1 lower than last week’s weighted averages in Kansas.  In the North, live deals were marked at $146 to $150 and $234 dressed, close to last week’s weighted average basis in Nebraska.  Look for more business to develop over the balance of the week. 

At the Hub City Livestock market in South Dakota, compared to two weeks ago, steers 850 to 900 pounds were $2 to $3 higher, and steers 1000 to 1050 pounds were steady to $3 lower. 

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