Cattle mostly higher, hogs mixed ahead of USDA reports

Cattle mostly higher, hogs mixed ahead of USDA reports

At the Chicago Mercantile Exchange, live and feeder cattle were mostly higher ahead of Friday’s Cattle on Feed report.  The report confirmed fewer slaughter-ready cattle in 2023 and are friendly to prices.

There was a follow-up round of direct cash cattle trade that took place on Friday.  For the week, live deals in the South were at $155 to $156, steady to $1 higher than the prior week’s business.  Dressed business in the North was at mostly $249, $1 higher than the previous week’s weighted average basis in Nebraska.

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