Cattle Volume Up
With pickup in volume Monday on futures, long liquidation was part of the trading in cattle. Also, feedlots have been forward contracting December futures on out into 2021 not wanting to risk another year like 2020 and the month after month negative feeding margins.
Hog weights are going up. Slaughter Monday at 490,000 is one of the largest since market slowed last spring. Packers don’t seem to have trouble finding hogs because if they did, it is likely weights would break.
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