Feeder cattle lower due to rising corn
Fed cattle trade was again slow to develop in a very cautious market. At mid week, feeders were holding out for $90 and packers were offering $85. Packers have had positive margins over the last few days; that margin was only about $5 a head and history has shown us that it doesn’t take a packer long to give it all back to the feeder. Only 14,000 head had traded through Thursday at $87 live, $137.00 dressed. Trade was expected to wait until Friday to get und...
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