wmeubank@ocp.kcmo.com
ALLENDALE, INC.
4506 Prime Parkway, McHenry, Illinois
(October 20, 1997) CATTLE: The Cattle on Feed report had no real surprises as the trade average estimates were close to the actual. However the range of estimates was unusually wide. Monday could have traders defending their positions. The report did confirm there is a lot of cattle on feed. Therefore meat supplies should be plentiful going into the 1st and 2nd quarters of 1998. Packers bought quite a few cattle this week and probably will be not have much interest until mid week unless they can buy cattle at their price. Showlist are current and feedlots will being asking 67.00 to 69.00 early. Futures are called to open mixed on Monday.
Paul Georgy
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