At the Chicago Mercantile Exchange, live and feeder cattle were higher watching corn and waiting for direct business to develop.  October live cattle closed $2.75 higher at $182.70 and December lives closed $2.35 higher at $186.50.  October feeders closed $2.17 higher at $256.47 and November feeders closed $2.00 higher at $258.20. 

Direct cash cattle trade was relatively quiet on Tuesday.  A few bids did surface at $288 dressed in Nebraska.  Asking prices were around $180-plus live in the South, while the North was quiet.  There were a handful of deals reported in parts of Nebraska on Tuesday at $288 dressed and some live deals in Iowa at $183.  But neither was enough business to establish and accurate price trend.  Look for more business to develop before the end of the day Friday.

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