At the Chicago Mercantile Exchange, live and feeder cattle were down, watching direct markets and waiting for widespread direct business to develop. June live cattle closed $.52 lower at $175.85 and August lives closed $.50 lower at $173.72. August feeders closed $1.35 lower at $251.05 and September feeders closed $1.32 lower at $252.07.
A very light direct cash cattle trade developed Thursday. Live deals were at $185 in Texas, that’s about $1 higher than the previous week’s weighted averages. Asking prices were firm at $186 to $187 live in the South and around $297-plus dressed in the North. Look for more business to develop over the balance of the week.
