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Live Cattle Lower on Moderate Volume


Live Cattle were lower Monday on moderate volume. Live Cattle futures moved up into the report and since the report was in line with expectations, many traders stuck to trades or liquidated to re-enter on breaks.  The report was friendly and long run bullish but with big premiums into the report and moving bear spreads to bull spreads last week, traders will be focusing on beef prices and how much beef is needed to fill daily demand.

cows in black and white

The pork carcass gained on the 5 day pork carcass. On early sales Monday the 5 day average price was $85.42.   Biggest gains is coming from bellies up $20.56 on early sales with loins up $3.18, and butts up $3.30. Hams were soft and dropped 56 cents.

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