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Cattle futures gain ahead of direct business, on feed report

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Chicago Mercantile Exchange live and feeder cattle were sharply higher ahead of widespread direct business and the USDA’s Cattle on Feed report. February live was up $1.72 at $174.82 and April was $2.02 higher at $177.65.

Direct cash cattle markets were generally quiet. A handful of sales were reported at $170 on the live basis in Iowa. Asking prices were $174 to $175 live, with bids of $273 to $275 dressed. Otherwise, bids and asking prices were not established.

Cattle futures gain ahead of direct business, on feed report

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