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Prices were steady to $3 lower early in the week, but $3-$5 higher on Wednesday as a big rally on the CME allowed feedlots to bid much higher on their risk management programs ability to hedge cattle.
Looking at slaughter cows, a very big run of cows with wide swings in prices depending on regions influenced prices at the auctions. Additionally, cow meat prices moved up and down during the week and price trends at the test auctions were quoted anywhere from $5 lower to $5 higher.
Ed Czerwien is a market analyst in Amarillo, Texas. From the heart of Cattle Feeding Country, Ed follows the cattle and wholesale markets to keep beef producers up-to-date on the market moves that affect them. He previously worked with USDA as a Market News reporter. Ed is now semi-retired and continues to work with cattle trade analysis.
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