date:Dec 11, 2012
that havent been tested for the growth promotant ractopamine undercut CME livestock futures last Friday. That decline, as well as sizeable wholesale losses posted in mid-afternoon, probably persuaded cattlemen to take substantially reduced bids from beef packers later in the day.
Preliminary reports suggest fed cattle prices dropped from around 127 cents/pound to the 124-cent range. That bodes ill for this mornings futures opening. February cattle declined 0.72 cents to 130.45 last Friday, wh