AMES ? The contrast between the beginning of 2015 and the beginning of 2016 is stark in the beef cattle markets. Last year was one of transition as the markets turned the corner from upward-trending prices to the reality of growing cattle inventories and the beginning of cyclically lower prices. Many cow-calf operations that expanded through the purchase of record high-priced replacement heifers in 2014 and 2015 ...

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