Live Cattle prices held at record $2.52 per pound supported by lower supply and steady demand. A shrinking U.S. cattle herd, now the smallest since the 1950s, and rising ranching costs have pushed prices up more than 25% over the past year. Cattle slaughter is estimated to have fallen to about 2.2 million head in March, down from 2.5 million a year earlier, based on data from the U.S. Department of Agriculture. Despite tighter supply and higher prices, demand remains steady.
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