Market steps back

Sep 17, 2007
—Surge in corn adds to caution in cattle markets. —Fed cattle supply supportive of higher cash ahead. Packers slowed their chain speeds last week in an effort to stay out of the market as long as possible. There were reports of dark plants last Monday and USDA pegged the harvest at just 113,000 head. For the week through Thursday, the tally was just 490,000 head compared to 502,000 during the same period in 2006. Packers were working to prevent the b...

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