Live Cattle higher ahead of USDA data

Live Cattle futures are trading higher Friday. June Live Cattle is trading at 150.85, 1.82. August Cattle is trading at 149.20, up 1.35. The USDA Cattle on Feed Report as of April 1st is due out today at 3:00 PM ET (after the close). Estimates are for 1st on-feed supply at 98.8% versus a year ago. Placements for March are estimated to be near 95% of a year ago and marketings are estimated to be near 98.2% of last year. Trading is expected top be choppy with possible wide ranges on Friday.