 Packers were able to purchase 25% of the cattle last week for deferred delivery. That puts them in a position to hold for lower prices this week. Feedlots needed to move cattle last week and likely do again this week, reducing their desire to hold for higher prices. The benefit for feedlots is the continued weakness of feed prices. It's too early in the week, though, for traders to position themselves for the cattle on feed reports released Friday, but it's in the back of their minds this week.