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Aggressive feedlot marketing and lighter carcass weights continue to add heft to cattle prices.
Feedlot marketings in September were 5.4% more than a year earlier according to the latest Cattle on Feed report (COF).
“Even though the head marketed has not been a surprise, its role in the market has been key to fed cattle prices, which recently have been more than $10 per cwt above a year ago,” say analysts with the Livestock Marketing Information Center (LMIC). “Marketings of fed cattle have been aggressive. There was one less slaughter day this September than a year ago, so average daily marketings were 8.0% above 2016's…A critical result of the marketing pace has been year-on-year declines in slaughter steer...