Chicago Mercantile Exchange live and feeder cattle futures were higher, with feeders in the lead on the mostly lower corn, anticipating a reduction in feed costs. The USDA did raise its 2023 beef production guess, but sees smaller production in 2024 due to tighter supplies. June live was up $1.45 at $164.40 and August was $1.65 higher at $162.45. May feeders were $1.35 higher at $205.47 and August was up $2.90 at $228.97.
Direct cash cattle trade was quiet Friday.
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