At the Chicago Mercantile Exchange, live and feeder cattle were lower ahead of Friday’s On Feed report, which showed placements much larger than pre-report expectations. April live cattle closed $.87 lower at $187.50 and June lives closed $1.60 lower at $182.90. April feeders closed $3.12 lower at $251.50 and May feeders closed $4.30 lower at $253.77.
Direct cash cattle trade activity was quiet Friday following the active day Thursday. Packers aggressively competed for fed cattle, which did result in some pretty impressive prices.
