Slaughter cows and bulls defying the seasonal and moving higher by $2-5. Not sure what’s going on there but there sure isn’t many for sale. September has not been very friendly to cattle futures with spring contracts down approximately $0.06 per pound which is about $140 per head on a fat steer. Calf and yearling prices have fallen by about that much per head too as contracting opportunities have gone down.  So how should we think about that?  I think that we have to remember the big picture. Supply and demand are both very friendly to our business right now and higher highs are ahead of us.  A small pull back in prices is very common this time of year. Many calf buyers have not stepped into the market yet. Feed grain costs are cratering. I think that any price pull backs will be temporary and not very severe. I don’t think anyone needs to change their marketing plans.  Have a good week. Ian