USA: Feeder cattle higher on lower move in corn

Chicago Mercantile Exchange live cattle futures were mostly higher, getting ready for the week’s direct business, and feeders were up on the lower move in corn. April live was down $.52 at $165.45 and June was up $.10 at $160.65. April feeders were $1.40 higher at $200.07 and May was up $1.95 at $206.15. It’s another quiet day for direct cash cattle business. Bids failed to surface on Wednesday and asking prices were around $166 to $167-plus live in the South, while the North remained quiet. It looks like the bulk of the week’s business will follow the trend of recent weeks and hold out until sometime Thursday or Friday. At the Kingsville Livestock Auction in Missouri, yearling steers traded $4 to $8 higher compared to last week while yearling heifers sold steady to $4 higher. USDA says calves were lightly tested last week but steer calves traded with a higher to sharply higher undertone and heifer calves sold with a steady to higher undertone. Demand was good to very good for a ...