Cattle futures higher ahead of direct business

Cattle futures higher ahead of direct business

At the Chicago Mercantile Exchange, live and feeder cattle were supported by the sharply higher boxed beef at midday, waiting for direct business to develop. June live cattle closed $.65 higher at $177.62, and August lives closed $1.10 higher at $175.52.  August feeders closed $1.55 higher at $254.42, and September feeders closed $1.57 higher at $255.45. 

Direct cash cattle trade activity was quiet again Tuesday.  Bids didn’t surface, but asking in the South started out around $186 to $187 live. 

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