Market Activity

Cattle slaughter finished last week at an estimated 645,000 head, up 1.4% compared to 2017 and up 3% compared to the week prior. Slaughter rates look to increase heading into the holiday weekend, which will keep the market well supplied with ruminant material. Bean meal prices shed $11 on Friday after the WASDE report, but the market has regained about 40% of those losses today. Supply, as it has been for much of the year, has been the issue pressuring…