Cattle bids are called steady to easier again next week. It's going to be a difficult year for durum deliveries. The Board will only make partial calls on durum contracts in the months ahead. Slumping wholesale beef prices have packers pulling in their bids. Feeders also now caught selling overfat cattle into a falling market which gives packer's bargaining power.
Packer kill margins appear to be good.
Feeder cattle bounce today may not last given weakening slaughter market fundamentals. Harvest production will be huge. Swelling supplies due to excellent American crops plus world unease on biotech crops places a price cap on grain bids. Farm storage makes the problem worse. CPS red wheat.