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Feds down on beef projections
— Energy prices curtail restaurant demand.
Early optimism for a steady to $1 stronger fed cattle market was eroded
last week when trade occurred Thursday at prices mostly $2-3 lower
dressed, $1 lower live. Packing plants were starting to see profitable
margins decrease and projections for late summer and fall beef demand
decline as rising energy prices start to take a toll on consumer demand.
By Thursday, Nebraska cattle feeders had traded approximately 55,000...
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