Chicago Mercantile Exchange live and feeder cattle were lower with boxed beef down at midday, getting ready for the week’s widespread direct business. Fund liquidation and bearish weekly beef sales were also factors. April live was down $.65 at $164.80 and June was $.97 lower at $159.67. April feeders were $.92 lower at $199.15 and May was down $.67 at $205.47.

Direct cash cattle business was light. That trade was reported at $165 live in the south and $265 dressed in the north, both steady with last week’s respective weighted averages.

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