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Lean hogs higher on short covering

At the Chicago Mercantile Exchange, cattle futures ended the day sharply lower ahead of widespread direct business.  The drop in the limited cash business forced long liquidation selling.  Lower midday box beef also contributed to the day’s lower move.  August live cattle closed $1.57 lower at $108.25 and October contracts closed $1.95 lower at $109.50.  August feeder cattle closed $1.30 lower at $149.35 and September feeder cattle closed $.72 lower at $149.02.

Direct cash cattle trade has improved. 

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