Feeder cattle mostly higher on lower corn

At the Chicago Mercantile Exchange, live cattle closed mostly lower, adjusting spreads.  Feeder cattle were mostly higher on the day’s lower move in corn. 

It was a mostly quiet Friday for direct cash cattle trade activity, with just some scattered trade reported fully steady with the week’s business.  For the week, live deals in the South had a range of $137 to mostly $140, steady with the previous week’s business.  Dressed deals ranged from $225 to mostly $230, below the prior week’s weighted average basis in Nebraska. 

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