At the Chicago Mercantile Exchange, live cattle were lower, and feeders were mostly higher waiting for cash business to develop. April live cattle closed $.07 lower at $163.62 and June live cattle closed $.25 lower at $159.52. March feeder cattle closed $.37 higher at $186.82 and April feeders were unchanged at $190.72.
A light direct cash cattle trade developed late in the day Thursday. Deals in the North were marked at $254 dressed, $4 higher than last week’s weighted average basis in Nebraska.