At the Chicago Mercantile Exchange, live and feeder cattle were mostly lower on follow-through selling, despite the stronger cash business during the week. Feeders had additional pressure from the mostly higher move in corn. June lives closed $.77 lower at $163.72 and August live closed $.55 lower at $162.70. May feeders closed $.10 higher at $207.90 and August feeders closed $1.02 lower at $223.95.
Direct cash cattle trade was quiet on Friday. For the week, dressed deals in the North ranged from $283 to $290, mostly $290, which is a whopping $11 higher than the prior week’s weighted average basis in Nebraska.
