TCR's Weekly Market Summary...
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For the week ending November 16th: 

  • Slaughter cattle traded steady with a lower undertone while feeder and stocker cattle were mostly $2 to $4 lower with instances of $6 to $8 lower.  The Boxed Beef Cutouts lost more ground with the Choice & Select Cutouts $2 and $1 lower respectively.  Live Cattle Futures were slightly higher with Feeder Cattle futures closing mixed.
  • Packers have had the upper hand since February and continue to masterfully and strategically time their purchases and forward contracting in a way to minimize what they have to pay for cattle and to maintain hefty margins.  Market action this week indicates the feeding industry, being bled white by losses and looking forward at the futures, has decided their only option to stop the bleeding is to buy feeder cattle at lower prices.

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