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Feedlots hold out for more money
Fed cattle trade continued its recent trend of slow development last
week as packers once again worked hard to convince feedlots they
intended to stick to offering prices. As of Thursday last week, bids
were still as much as $5-6 below asking prices. Very little trade had
taken place and analysts were calling the market steady to perhaps $1
higher at $91 live and $140-142 dressed basis when buyers and sellers
finally came together.
At those prices, packers ...
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