Cattle futures waiting on direct business to develop

Cattle futures waiting on direct business to develop

At the Chicago Mercantile Exchange, live and feeder cattle were higher, waiting for direct business to develop. June live cattle closed $.07 higher at $178.25 and August lives closed $.40 higher at $176.52.  August feeder cattle closed $.20 higher at $255.87 and September feeders closed $.32 higher at $256.95. 

Direct cash cattle trade was quiet again Wednesday.  Bids were elusive for most of the day. A few asking prices surfaced around $186 to $187-plus live in the South, while the North was quiet.

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