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Mid-Session Cattle Market Report
Wed 30 Jan 2013 10:56:37 CT
Related Keywords: Agriculture
Cattle futures traded slightly lower early in the session with April down 25 points on the day but futures were back up to trade slightly higher on the day into the mid-session. Traders continue to see a tightening supply ahead as a positive force but with futures at a premium to the cash already, weak beef prices (lowest since August 10th) and a near perfect weather outlook for the feedlot regions for the next ten days (mild temperatures and little or no rain for Kansas through Texas) leave little short-term reasons to attract new buying interest. Traders see the cattle inventory on January 1st near 1.8% lower than last year for the Inventory report on Friday. This would be the 6th year in a row of lower inventory. With a tighter showlist this week, traders see cash trading $1.00-$2.00 higher this week.


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