Beef Products Inc. the manufacturer of lean, finely textured beef, announced 86 additional jobs are being cut from its corporate office due to financial fallout over the "pink slime" smear campaign.

The feedlot trade was quiet at midweek with packer inquiry little better than light to moderate with bids holding well below asking prices of $122-$123 in the South and $195-$197 in the North.

The Chicago Mercantile Exchange announced it will move to a 22-hour trading schedule for its grain futures markets. This announcement has come on the heels of an upstart futures group. But the move has raised concerns.

Thus far for Wednesday, negotiated cash trade was at a standstill in all feeding regions. The latest established market in the Southern Plains was last week, with live sales at 120.00.

Compared to last week: A limited test of yearling steers and heifers, not enough sales for an adequate market trend however a higher undertone noted.