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Cattle futures climb, despite week’s direct trade

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Chicago Mercantile Exchange live and feeder cattle futures were higher, waiting for the rest of the week’s direct business, with support from the broader market. The Federal Reserve Wednesday left interest rates unchanged and there are indications rates could be lowered in 2024. The USDA says 2023 beef export sales were up on the week and larger than average, mainly to South Korea and Japan, with 2024 sales of 5,100 tons, led by Japan. February live cattle were up $.70 at $167.92 and April was $.62 higher at $171.57.

Cattle futures climb, despite week’s direct trade