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The Hightower Report said, “Cattle ended with solid gains and June live cattle moved to a new contract high. This week’s pause in the month-long sharp rally did slightly reduce overbought conditions but the market now looks poised for further upside gains next week as the technical action is very strong. Crude and stocks were lower, but the moves were not enough to affect cattle today. Open interest yesterday in the live cattle was down just over 2,100 contracts, likely due to profit-taking ahead of the weekend. The bulls remain in firm control.”