Chicago Mercantile Exchange live and feeder cattle futures were higher ahead of the week’s widespread direct cash cattle business. The higher midday move for beef was a positive and feeders picked up additional support from the lower move in corn. February live was up $1.32 at $159.75 and April was $1.60 higher at $163.82.
Direct cash cattle markets were nearly at a standstill. The USDA reported very light trade at $154 on the live basis and $248 dressed, not enough to establish a trend.