At the Chicago Mercantile Exchange, live and feeder cattle closed sharply lower, pressured by the decline in cash business. February live cattle closed $5.42 lower at $163.55, and April live cattle closed $4.82 lower at $166.67. January feeder cattle closed $4.55 lower at $210.15, and March feeder cattle closed $5.72 lower at $211.75.
There was a light to moderate direct cash business that developed on Wednesday. Live deals in the South were marked at $171, $3 below the prior week’s business.
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