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Cattle futures pressured by profit taking

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Chicago Mercantile Exchange live and feeder cattle futures were pressured by profit taking ahead of this week’s widespread direct business. April live was down $.75 at 4187.25 and June was $.25 lower at $183.27. April feeders were $1.30 lower at $255.87 and May was down $.92 at $257.77.

Direct cash cattle trade had some packer bids at $182 in the South on Wednesday, but given that feedlots are asking $186 to $187, no cattle have been traded.

Cattle futures pressured by profit taking