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Holiday period bites into beef demand and prices
Slaughter cattle prices fell sharply the pre holiday week with major packers cutting inventory in anticipation of further weakness. Wide spreads between good and choice grades persisted while buyers remained selective. In Midwest markets Choice 2-4 steers 1,000-1,300 lbs were about 67.5 to 70 at terminals and 68.75 to 70.50 in direct trade. Vealers and lambs showed varied movement as demand slowed ahead of the 4th of July.
MENTIONED IN THIS ARTICLE
Midwest