Cattle futures close modestly lower

Cattle futures close modestly lower

Chicago Mercantile Exchange live cattle futures were mostly modestly lower, watching direct business develop, with steady prices reported during the session. Feeder cattle were down on profit taking and technical selling. February live was up $.07 at $157.35 and April was down $.15 at $161.27. January feeder cattle were $1.42 lower at $183.80 and March was down $1.67 at $186.55.

Direct cash trade ended the day quiet.  A light trade was reported in parts of the South today at $157, fully steady with last week’s weighted averages.  A few dressed deals have been reported in parts of Eastern Nebraska at $252, roughly $.50 higher than last week’s weighted average.  Some asking prices remain firm around $158 to $159 in the South, and $255-plus in the North.

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