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Cattle supplies remain tight

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“Predictions about the latest U.S. cattle inventory and October marketing numbers were generally right on the money,” said Jim Sartwelle, AFBF livestock economist. “While there are no big surprises in USDA’s report, it’s reasonable to conclude that supplies of fed cattle will be tight at least through the first quarter of 2008, especially when you look at current activity in the futures markets.”

“We’re tacking back toward the placement patterns that existed before the ethanol boom,” Sartwelle said. “Cattle feeders this October returned to the longer-term trend of Octobers past.”

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