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National Beef, the fourth largest beef packer in the U.S., has announced that the company's purchase of Iowa Premium has been finalized.
USDA’s monthly cattle on feed report, released Friday afternoon, provides some bearish news for summer futures contracts.
Beef and fed cattle prices drop from last week.
Live cattle traded $3.50/cwt higher this week while beef exports remain strong and continue to support a bullish cattle market.
The comprehensive cutout is 3% ahead of a year ago in the month of January, averaging $213.21 per cwt.
Cash cattle markets pushed higher as November began, supported by an ongoing rally in CME live cattle and packer demand for supplies headed into the holiday season.
Cash fed cattle traded higher for the fourth consecutive week, and Friday's cattle on feed report was called neutral for markets ahead of the Thanksgiving break.