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The Australian and U.S. feeder cattle markets show mixed signals this week, with the Australian saleyards leading a rally in response to robust grain prices, while other reports suggest ongoing volatility due to uncertainties and feedlot gluts that are shifting pricing power back to packers. The uncertainty is also affecting imported beef trade, as wheat prices surge amidst Black Sea tensions, impacting cattle markets from Australia to the U.S. Analysts from Klassen and Don Close highlight temporary market support for feeder cattle, while Hales offers a bullish outlook despite these challenges. Commodity analysts point to Cargill’s reopening of its Fort Morgan plant as increasing competition in the beef industry. The choice boxed beef cutout price remains steady at $398.94/cwt.