Live cattle mostly higher watching direct business

At the Chicago Mercantile Exchange, live cattle were mostly higher ahead of widespread direct cash business.  Feeders were pressured by the higher move in corn.  August live cattle closed $.10 higher $171.07 and October live cattle closed $.22 higher at $174.35.  August feeder cattle closed $1.77 lower at $234.12 and September feeders closed $1.60 lower at $237.52. 

There was another light round of direct cash cattle business reported on Thursday.  Deals in Nebraska were marked at $296 dressed, $4 below the previous week’s weighted average basis in Nebraska. 

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