Sharply higher cash business supports cattle futures

At the Chicago Mercantile Exchange, live and feeder cattle ended the day higher, supported by the sharply higher cash business that took place on Thursday.  June live cattle closed $5.77 higher at $174.90 and August lives closed $4.70 higher at $172.37.  August feeder cattle closed $2.47 higher at $241.65 and September feeder cattle closed $2.72 higher at $244.95. 

It was a wild Thursday for direct cash cattle business.  Packers were apparently short-bought coming off the long holiday weekend.  

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