At the CME, live and feeder cattle were higher, following Friday’s On Feed report, watching corn, and waiting for direct cash business to develop. October live cattle closed $1.05 higher at $179.87 and December live cattle closed $1.12 higher at $184.30. September feeder cattle closed $1.80 higher at $250.32 and October feeders closed $1.95 higher at $252.65.
It was a typically quiet Monday for direct cash cattle business. Showlists appear to be somewhat higher in Nebraska/Colorado, but lower in Kansas and Texas. Bids and asking prices weren’t established and may not surface until later in the week. If business follows the trend of recent weeks, it’s likely significant trade volume will hold out until sometime Thursday or Friday.
