October cattle traded moderately higher on the session early today and pushed to the highest level since August 17th before moving to slightly lower on the day into the mid-session. Outside market factors were positive early today but weakness in corn and other grain markets and demand concerns emerged to spark the early selling. Boxed-beef cut-out values at mid-session came in at $183.75 which was up $1.92 from yesterday and up from $180.68 last week at this time. Traders expected the higher beef prices after packers were forced to pay-up for cash cattle last week but there are concerns that consumer resistance will emerged to the steep uptrend for beef prices recently.
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