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Cutout pulls feds lower

Jul 24, 2006
Fed cattle trade was slow to start and the standoff was apparent with packers offering $78 against feeder offers of $83-84 live, and $130 dressed. There was some limited trade at $81-81.50 and $126-128 dressed, but not enough volume to call the market. Boxed beef cutouts have been in a tailspin the past two weeks and wholesale buying interest emerged only when prices fell to a more attractive level of $144 on Choice products. Packer margins fell into negative territory fo...

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