At the Chicago Mercantile Exchange, live and feeder cattle were pressured by the recent lower trend in direct cash business. June lives closed $1.97 lower at $162.90 and August lives closed $1.70 lower at $160.95. August feeders closed $3.92 lower at $226.17 and September feeders closed $3.80 lower at $229.27.
Direct cash cattle business kicked off much earlier than expected this week with a light to moderate trade across cattle country Tuesday. Live deals in the South were marked at $172, $1 lower than the previous week’s weighted averages.
