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Live cattle futures are called to open mixed, with buying limited by steady cash cattle trade.
After light cash cattle trade at $128 in Texas yesterday, traders are taking a more cautious approach to futures this morning given the $4-plus premium February contracts hold to the cash market.
This week's cattle showlist is up from last week after supplies were carried over last week, which weakens feedlots' bargaining power.
But pressure on futures will be limited by yesterday's firmer tone in the boxed beef market on strong movement of 218 loads.
Feeder cattle futures are called mixed due to choppy price action in the corn market and an expected mixed open in live cattle.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.