The amount of beef in cold storage at the end of October was up 34% from a year ago.
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Losses continue to mount for feedlots.
Feedyard margins saw only slight improvement last week as direct trade prices held steady.
The rally continues for feeder cattle prices as new all-time highs were posted last week.
Meaningful change isn’t accomplished overnight. More often, it happens slowly by chipping away piece by piece until something new suddenly takes shape.
Possible record corn crops are a good sign for beef producers.
While the weather forecast have called for colder temperatures the USDA is forecasting lower beef production for 2015.