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The cattle market regained upside momentum today, especially in feeders, after stalling yesterday and prices finished in the upper end of the day's range. Yesterday's open interest in live cattle dropped nearly 5000 contracts but rose 1000 in feeders. The significant August live cattle discount to cash was a supportive factor today along with ideas that cash trade will remain strong this week, according to The Hightower Report.
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“Another sharply higher day across the cattle complex yesterday with prices opening on the low of the day near steady and closing on the highs…
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