At the Chicago Mercantile Exchange, live and feeder cattle were lower on profit-taking and technical selling ahead of the week’s widespread direct business.  April live cattle closed $2.97 lower at $186.95 and June lives closed $2.67 lower at $183.37.  April feeder cattle closed $4.67 lower at $251.17 and May feeder cattle closed $3.77 lower at $254.82. 

It took nearly the entire day Thursday for direct cash cattle business to develop, and it was worth the wait.  

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