Midwest Market Solutions President Brian Hoops thinks the friendliest number in Wednesday’s Cattle on Feed report is the placement number. “It’s well below trade estimates and last year’s levels, sending the cattle markets higher.” Hoops thinks the U.S. could be past the “wall of cattle” the trade has been talking about for the past few months. “Since last month, the Cattle on Feed reports are saying we should see bigger numbers, but weekly show list numbers aren’t reflecting that, coming in below last year’s levels.”
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