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Fed cattle prices slide

Oct 16, 2006
Short bought packers last week jumped into the market early and got trade started at levels lower than the prior week. A combination of factors, including seasonal softening beef demand at the consumer level and a sharp decline in the Chicago Mercantile Exchange (CME) live cattle contracts on Monday worked against cattle feeders who, last Wednesday and Thursday, sold cattle in a range of $86-$87 live and $135-$138 dressed in the north and $87-88.50 in the southern...

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