Cattle futures mostly lower despite strong cash business

At the Chicago Mercantile Exchange, live and feeder cattle ended the day mostly lower on profit-taking despite much high cash and wholesale business.  June live cattle closed $0.35lower  at $164.50 and August live cattle closed $.72 lower at $163.25. May feeder cattle closed $.77 lower at $207.80 and August feeder cattle closed $.77 lower at $224.97.

Direct cash cattle trade activity picked up where it left off on Wednesday.  Dressed deals in Nebraska were at $290, $11 higher than the prior week’s weighted average basis in Nebraska. 

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