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“Poor technical action has plagued the market for the last couple of weeks, and August live cattle are nearing a critical area of the daily chart, with prices yesterday testing three-month lows,” the Hightower Report said. “Cash cattle this week is now expected to be significantly below the prior week, and that is pressuring prices along with long liquidation.”
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Lean hog futures were mixed, with front months rallying 50 cents to $1.70, as deferreds were down 7 to 30 cents, Austin Schroeder wrote for Barchart.
“The cattle complex finished mixed yesterday after a lower start,” the Hightower Report said. “COT data showed managed money reduced their net…
“Cattle continue to struggle after August tested three month lows this morning but prices bounced back to close well off the lows of the day. …
Cattle futures were strong early in the session yesterday but pulled back and closed mixed and near the lows of the last two weeks, the Highto…
Boxed beef cutout values this afternoon were lower on Choice and higher on Select, the USDA said.
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