Cattle post new contract highs. Snows ahead are monitored.

June fat cattle posted strong gains of 5.45 this week. Much better than expected cash trades allowed all 2023 contracts to post new contract highs and a new high-close. May feeders posted a strong 7.65 gain as well. This came despite moderately higher corn pricing. Some of this week's gains on both ends were likely supported by coming snows.

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