Live cattle lower, feeders higher heading to Friday

At the Chicago Mercantile Exchange, live cattle closed lower, watching the direct markets, and feeders were higher on the drop in corn.  August live cattle closed $1.05 lower at $133.87 and October live cattle closed $1.07 lower at $140.  August feeder cattle closed $1.70 higher at $174.85 and September feeder cattle closed $1.55 higher at $176.85. 

Thursday was a relatively active day for direct cash cattle trade.  Deals were at mostly $234, $4 higher than last week’s weighted average basis in Nebraska. 

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