The cattle markets are open for a half session today and both packer buyers and feedyard producers will both need to use the time to get at least some minimal cash cattle business accomplished. We did see some light $195 dressed business take place in the North on Tuesday, but producers passed on those same $195 bids Wednesday, as they did the $124 live bids in the South. Most in the industry seem to be expecting something $1-2 higher than last week’s $127 market?? Winter weather, though, has a tendency to help producers’ negotiation resolve, and we’ve got a giant mix of rain, ice, snow across most of cattle country this morning, slowing cattle performance. Combine that with firmer boxed beef markets reported on Wednesday afternoon and we’ll be looking for cattle futures to start firmer this morning.
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