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The Hightower Report said, “The cattle complex closed weak with feeders leading the decline today. We are a bit surprised of the weakness in feeders after yesterday’s strong technical close and breakout of the neckline of a head and shoulders bottom pattern. Live cattle was a couple dollars and cash bids this morning were renewed at 226 in Kansas with trade occurring at midday at that price in both Kansas and Texas. The lower futures today likely allowed packers to hold bids steady from yesterday.”
