At the Chicago Mercantile Exchange, live and feeder cattle were pressured by the recent slide in direct business and demand uncertainties linked to the economy. June live cattle closed $1.25 lower at $161.65 and August lives closed $1.40 lower at $159.55. August feeders closed $2.65 lower at $223.52 and September feeders closed $2.52 lower at $226.75.
There was another light round of direct cash cattle business on Wednesday. Deals in the North were at $281, fully steady with Tuesday’s business, and $3 below the prior week’s weighted average basis.
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