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Coming into this week, “there is no technical sign of a low” in cattle, The Hightower report said. “If there is a sense that the industry can deal with the plant fire issue without building a massive supply of market-ready cattle, cattle futures look undervalued.”

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Cattle finished the weekend down as ideads that a surge in beef prices (now at their highest level since 2017) will spark much more active slaughter pace, The Hightower Report said.

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Boxed beef cutout values this afternoon were sharply higher on good demand and moderate offerings, USDA said.

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Moved cows this morning with the Boss Man at the Home Place. It’s usually not a big deal as we rotate pastures regularly, so the pairs are used to being juggled from place to place. It was a beautiful cool beginning to the day — one of those that starts getting a person excited about Husker Football and warm drinks. Then I saw it …

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Boxed beef cutout values this afternoon were sharply higher on good demand and light offerings, USDA said.

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FORT ATKINSON, Iowa — Jessica Schmitt shares a lot with her older sister Mariah. Both grew up working on their family's Fort Atkinson dairy farm, showed dairy cattle, and both were Winneshiek County dairy princesses.

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Yesterday’s limit-down trade in cattle means more expanded limits today, as the contracts move to contract lows. “On the charts, it is clearly ugly,” Allendale said.

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“The (cattle) market gapped down the limit today and stayed limit down into the close,” the Hightower Report said. “A weekend fire at a Tyson slaughter plant has shut the slaughter plant down indefinitely and while the plant will be rebuilt, this was seen as a key bearish force. The news sparked selling as less demand for live inventory is seen as a bearish force.”