Cattle futures lower, waiting on direct business

Cattle futures lower, waiting on direct business

At the Chicago Mercantile Exchange, live and feeder cattle were pressured by the drop in boxed beef, waiting for direct business to develop. June lives closed $1.15 lower at $176.47 and August lives closed $1.30 lower at $174.22.  August feeders closed $2.02 lower at $252.40 and September feeders closed $2.05 lower at $253.40.

Direct cash cattle trade activity was quiet for the most part Wednesday. Bids have been slow to surface this week. 

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