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Cattle futures lower, waiting on direct business

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At the Chicago Mercantile Exchange, live and feeder cattle were lower, waiting for direct business to develop and Friday’s On Feed numbers. April live cattle closed $.25 lower at $187.80 and June lives closed $.22 lower at $184.77.  April feeder cattle closed $.15 lower at $254.92 and May feeder cattle closed $.12 lower at $258.80. 

Direct cash cattle trade has been slow to develop this week. There were a handful of deals reported in Kansas at $186.

Cattle futures lower, waiting on direct business