Live Cattle Steady
Thursday's USDA cattle slaughter was 108,000 head versus a year ago at 119,000 head. The USDA weekly beef export sales of 13,900 tons, exports are down 5.8 percent on average versus last year. The USDA reported weekly beef production at 441.1 million pounds, a little over 2 percent higher than a year ago.
Live cattle futures are trading steady Friday morning. April Live Cattle was trading at 149.72. June Live Cattle was trading at 142.65, down 0.30. Market talk about the futures discount to cash markets has been supportive. Trading is expected to be choppy after Thursday's sharp move higher.
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