Cattle, hog futures start the week sharply lower

At the Chicago Mercantile Exchange, live and feeder cattle closed sharply lower following Friday’s On Feed numbers and ahead of this week’s direct business.  June live cattle closed $3 lower at $135.42 and August live cattle closed $3.05 lower at $137.32.  May feeder cattle closed $2.57 lower at $161.30 and August feeder cattle closed $2.40 lower at $174.50. 

There was a light to moderate direct cash cattle trade reported on Monday as packers remain short-bought. 

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