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Cattle futures higher following On Feed numbers

At the Chicago Mercantile Exchange, live and feeder cattle were higher following Friday’s On Feed report, feeders also found additional support from the day’s lower move in corn. 

It was a quiet start to the week for direct cash cattle business.  Bids and asking prices have yet to surface.  The holiday-shortened week could impact how the cash cattle market reacts.  It is a possibility significant trade could develop earlier than normal.

At Midsession at the Oklahoma National Stockyards, compared to last week, feeder steers were steady to $2 higher.  Feeder heifers were mostly steady.  The USDA says demand was moderate to good for feeder cattle.

Cattle futures higher following On Feed numbers