Thousands of residents turned out at the ceremony held in Makurdi, Benue State capital. Many were seen sobbing as the coffins of their loved ones were lowered to the ground.
The clash between the herders and the farmers happened on New Year's Day when the cattle herders, widely believed to be from the Fulani tribe, went on a rampage wielding machetes, the governor of the state told CNN.
Governor Sam Ortom said the clashes occurred following the enforcement of a new anti-grazing law.
Ortom told CNN: "They had threatened to wipe out the whole state if we did not repeal the law, and allow their cattle to graze wherever they like. They say cattle are more precious than human beings."
"The rule of the law should be respected and punishment should be meted out on those who violate it," Ortom added.
However, Bello Bodejo, head of the cattle herders association, who spoke to CNN, denied the group's involvement in the attacks.
He accused the governor of enforcing the law, which prohibits cattle grazing in some parts of the state, without consulting the herdsmen.
"How could the governor have ordered the arrest of Fulani herdsmen? Most of them live in the bush and they are not aware of the law. They are not even educated enough to understand it," he said in an interview with CNN.
"We are contesting the law in court," Bodejo added. "We have also written to security agencies. This is because we want to abide by the law. We are not responsible for the attacks."
The conflict between the Fulani herdsmen, who are mostly Muslims and the farmers, who are predominantly Christians, dates back to 2013, according to local media reports.
Cattle herders have forcefully evicted farmers from villages by initiating deadly attacks in Nigeria's middle belt, media reports say.
However, some believe the conflict does not have a religious or ethnic bias. Garba Shehu, the President's spokesman, said that it had roots in Nigeria's booming population.