The cash cattle trade was not tested today with preliminary bids inadequate to generate significant selling interest. Asking prices were around $148 in the South and $240 in the North. On the other hand packer bids were no better than $144 in the South and $237 to $238 in the North. According to the closing report, the Iowa hog base is $0.98 lower compared with the Prior Day settlement ($108.00-$115.00, weighted average $113.15). Corn futures closed modestly lower, steady to down 3 1/2.
Futures closed lower, down 2 to 7 1/4. Live cattle futures ...