Feedlots Stand Their Ground
MORNING LIVESTOCK OUTLOOK
Feedlots stood their ground last week and packers bought cattle up to 160.00 FOB and $162.00 on steers delivered in the Midwest. Buying was on a limited number of cattle. As of 3:30 PM Friday there were no cattle purchased in Texas, New Mexico, Oklahoma and only 40 head in Kansas.
There wasn’t much change on the pork cutout this week It is too early to say for certain, but it appears the pork cutout may have found a near term bottom.
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