Weaker cash business continues to pressure cattle futures

At the Chicago Mercantile Exchange, live and feeder cattle were pressured by the recent slide in direct business and demand uncertainties linked to the economy.  June live cattle closed $1.25 lower at $161.65 and August lives closed $1.40 lower at $159.55.  August feeders closed $2.65 lower at $223.52 and September feeders closed $2.52 lower at $226.75. 

There was another light round of direct cash cattle business on Wednesday.  Deals in the North were at $281, fully steady with Tuesday’s business, and $3 below the prior week’s weighted average basis. 

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