 Packers able to purchase 25% of the cattle last week for deferred delivery, which puts them in a position to hold for lower prices this week. Now, feedlots needed to move cattle last week and will again here this week, reducing their desire to hold for higher prices. A benefit for feedlots is the continued weakness of feed prices. It's too early in the week for traders to position themselves for the cattle on feed report as well to be out Friday afternoon, but it is in the back of traders' minds, no doubt.