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I might wait a week or two(if I had the feed) to see if this drop is an over correction(problems AND July 4th are a BAD mix for markets). Everybody got out for the 4th and its easy to take a wait and see attitude since you had already stopped buying, on top of why buy in the heat?
Around here 850- 900lbs make more money than 800lb so you have some time to wait with. I wouldn't want to wait much more and get into the fall slump on top of a sustained downturn(if things don't turn around).
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cattle outlook
