Cattle futures pull back ahead of cash business

At the Chicago Mercantile Exchange, live and feeder cattle were lower ahead of widespread direct trade. August live cattle closed $2.95 lower at $170.97 and October lives closed $2.90 lower at $174.12.  August feeders closed $4.55 lower at $235.90 and September feeders closed $4.27 lower at $239.12. 

Direct cash cattle trade activity was relatively quiet on Wednesday.  Bids surfaced at $178 live in the South and $295 dressed in the North, while asking prices were kept under wraps. 

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