Cattle futures lower ahead of cash trade

At the Chicago Mercantile Exchange, live and feeder cattle were lower ahead of widespread direct business.  June live cattle closed $.92 lower at $163 and August live cattle closed $.37 lower at $161.17.  August feeder cattle closed $.97 lower at $225.15 and September feeders closed $1.27 lower at $228.37.

Direct cash cattle trade has been slow to develop this week.  Bids surfaced on Wednesday at $177 live and $275 dressed, but asking prices weren’t available. 

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