At the Chicago Mercantile Exchange, live and feeder cattle were lower ahead of the week’s direct cash business, pressure from the recent trend in boxed beef, and spillover from the broader markets. Feeders had additional pressure from the higher move in corn. August live closed $.37 lower at $174.57 and October lives closed $.45 lower at $177.42. August feeders closed $2.42 lower at $242.27 and September feeders closed $2.82 lower at $245.32.
There was a solid round of direct cash cattle business that took place on Thursday.