Cattle, hog futures lower on profit-taking

At the Chicago Mercantile Exchange, live and feeder cattle were lower on profit-taking.  Markets continue to watch direct cash business develop, which has been at mostly, sharply higher prices.  August lives closed $2.30 lower at $173.20 and October lives closed $2.62 lower at $175.62.  August feeders closed $4.15 lower at $239.10 and September feeders closed $4.25 lower at $242.27. 

Direct cash cattle business is looking to break some records this week.  Deals in the North were marked at $300 dressed, $10 higher than the previous week’s business. 

…