Packers Buying Cattle for Shortened Schedule

news snip
news snip
(Commodity Update)

Live cattle futures’ strength may be limited by expectations for weakness in the cash market. Live steers averaged $144.79 last week, down $2.34 from the previous week’s average and ending a run of three consecutive weekly gains.

 

Packers will be buying cattle for a shortened slaughter schedule next week and also have new contract supplies for September available Thursday, meaning demand for negotiated animals may remain limited.

 

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