Barchart.com reports that live cattle futures had mixed trade on Thursday with front months 40 to 45 cents higher and other contracts 5 to 50 cents lower. USDA will release an updated Cattle on Feed report this afternoon, with the trade expecting to see May placements down 1.5% from a year ago. “There are some contrarian thoughts, with traders calling for anything from a 5% drop to a 2.4% increase,” Barchart.com said. May marketings are seen up 0.5% on average. June 1 Cattle on Feed is projected to be down 1% vs. last year.
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