At the Chicago Mercantile Exchange, live and feeder cattle futures were lower, getting ready for widespread direct business and Friday’s USDA Cattle on Feed Report. April live was down $.72 at $163.55 and June was $.45 lower at $158.20. April feeders were $.57 lower at $197.07 and May was down $1.17 at $202.40.
Direct cash cattle trade ended Monday quiet. Formula totals for last week were higher in all three major feeding states: Kansas, Nebraska and Texas.