Courtesy of The Maxfield Report

www.themaxfieldreport.com

Sellers flexed their muscles last week and with the aid of a slaughter levels that continue to run below 600,000 animals, were able to ward off attempts from buyers looking to purchase hides at lower levels. Overall, it appears the trade agrees that it is highly unlikely that sellers collectively as a group liquidated the slaughter last week. However, with slaughter levels running approximately forty-thousand head lower than normal levels, coupled with the fact that the vast majority of sellers possess a strong sold forward position, it should not be a problem for sellers.

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