Fed cattle trade lower, feeder markets mixed
Fed cattle trade was at a standstill last week. Beef sales have been
slower than expected and packers are holding more unnecessary inventory
than they would like. The boxed beef cutout values have been falling and
support is expected to develop at the $140 level, which we’re just $2
away from. Packers are still in negative margin even though it has
improved greatly since two weeks ago, but they are still losing $12.25 a
Fed cattle trade was expecte...
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