In my opinion, cattlemen did what was expected, they started the new year aggressively acquiring inventory.

When not knowing what to do, I have heard as many times to "do something", as I have "don't do anything".

It didn't take long for traders to void the one of few rules of the Elliott Wave.

The wave count on the fats differs slightly than the feeders.

With 11.7 million head on feed and all going to be fed longer, beef production through the first quarter is expected to be elevated.

Lower boxes proved no incentive to bid higher for inventory.

Futures traders turned skeptical by the close on packers paying a higher price this week.

Exposing the procurement of inventory to place on feed, in a projected negative margin, is not believed a foretelling event for a higher or lower price.

Cattle feeders are continuing to bid higher for incoming inventory, at a time when even fewer cattle are anticipated available, and woefully too much production capacity.

cattlemen pulled out all the stops to inhale negative margins again.