At the Chicago Mercantile Exchange, live and feeder cattle were lower, waiting for the week’s direct business to develop. August live cattle closed $1.05 lower at $178.92 and October live cattle closed $.45 lower at $181.72. August feeder cattle closed $1 lower at $257.65 and September feeders closed $1.05 lower at $258.67.
Direct cash cattle trade activity was quiet again Tuesday. Bids and asking prices weren’t established. If business follows the trend of recent weeks, significant trade volume isn’t expected to develop before sometime Thursday or Friday.
