Cattle futures move lower on light cash business

Chicago Mercantile Exchange live and feeder cattle futures closed lower Tuesday, watching direct cash business develop. Feeders picked up additional pressure from the modestly higher move in corn. June live was down $1.15 at $132.40 and August was $1.27 lower at $134.10. May feeders were down $.87 at $158.92 and August was $2.37 lower at $171.85.

Direct cash cattle trade was mostly quiet Tuesday. Trade in the South came in at $140, steady with last week’s weighted averages.

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