Buyers continued to pressure the market with bids lower than current market levels, but sellers countered with steady levels. The business that was concluded was for regular-weight branded and heavy native steers, down $0.50-$1 from last reported levels. Regular-weight Colorado branded steers traded $2 higher from yesterday and $0.50 higher from last Thursday’s report. Another seller reported a trade $0.50 below last Thursday’s level. 

Traders have a sense that packers are building inventory and need to sell material because of the willingness to sell at lower levels and the poor outlook on the global economy.

U.S. Export Sales & Shipments for Week Ending November 2

USDA Cured Hide and Wet Blue Export Sales Recap

For the week ending November 2, export sales for the 2023 marketing year decreased 29.77 percent, from 659,328 to 463,063, while shipments decreased 5.02 percent, from…