MIDSESSION FEEDER CATTLE FUTURES MIXED
Feeder Cattle futures traded 0.02 cent
lower to 0.25 higher in light midsession dealings.
    All but distant March posted a new season's high on general
demand before profit-taking developed. Spreading of long
deferred cattle futures/short May feeder cattle added to the
pressure in May, traders said.
    Although profit-taking weighed on prices, strong
fundamentals continued to provide support. Cash feeder cattle
remain strong on limited supplies and continued gains in live
cattle futures prompted spillover demand.
    The average feeder steer price, USFSP, rose 10 cents in the
past two reporting days, traders noted.
 Reuter
