At the Chicago Mercantile Exchange, live and feeder cattle were higher, waiting for the week’s direct cash business to develop with support from stronger boxed beef prices. October live cattle closed $.50 higher at $145.05 and October feeder cattle closed $1.15 higher at $186.10.
It was a quiet start for direct cash cattle business in this holiday-shortened week. While trade has been slow to develop, packers are short-bought and when business picks up, prices will likely reflect that.
