Cattle futures lower ahead of direct cash business

At the Chicago Mercantile Exchange, live and feeder cattle were lower waiting for direct cash trade to develop. The cattle on feed report comes out on Friday.

It was a quiet Tuesday for direct cash cattle trade activity.  Asking prices were at $140 to $142 live in the South, while the North remained quiet.  With Cattle on Feed numbers coming out on Friday, it could be late in the week before direct business develops. 

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