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Cattle, beef rally may be slowing, but market is in good shape

Cash cattle and wholesale beef price gains are showing signs of slowing down.

Oklahoma State University Livestock Marketing Specialist Derrell Peel tells Brownfield that while the rallies may be pulling back, with the recent strength, the near term outlooks for cattle and beef are solid, “Both packers and feedlots have had an incentive to move cattle, particularly with this recent run-up in beef prices. We’re certainly past most of the featuring for Memorial Day. Even though we probably will come back off of this recent run-up in beef prices, we’re still in pretty good shape because we’ve pulled carcass weights down.”

Wholesale beef prices at midday on Thursday were mixed following a recent run up and the USDA says direct cattle trade Wednesday was done at steady to lower prices than last week’s activity.