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Cattle futures supported by lower move in corn

At the Chicago Mercantile Exchange, live and feeder cattle ended the day higher, with feeders in the lead on the lower corn.  August live cattle closed $2.52 higher at $132.90 and August feeder cattle closed $4.60 higher at $169.72. 

There was another round of light to moderate direct cash cattle trade on Tuesday.  Deals in Kansas were at mostly $135 live, with a few at $136.  That’s $2 lower than last week’s weighted averages, but steady with the week’s decline. 

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