At the Chicago Mercantile Exchange, live and feeder cattle closed sharply lower following Friday’s On Feed numbers and ahead of this week’s direct business.  June live cattle closed $3 lower at $135.42 and August live cattle closed $3.05 lower at $137.32.  May feeder cattle closed $2.57 lower at $161.30 and August feeder cattle closed $2.40 lower at $174.50. 

There was a light to moderate direct cash cattle trade reported on Monday as packers remain short-bought. 

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