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“Daily trading volume Tuesday in live cattle was the lowest in a month after hitting the highest volume of the year last week,” The Hightower Report said. “The market remains choppy but with the nearby months significantly discount to cash there seems to be little reason for a major pullback until cash prices break,” The Hightower Report said. “The latest cattle on feed report will be released with on feed estimates at 101.4%, placements 103% and marketings 90.5%.”
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Oliver Sloup at Blue Line Futures said, “The monthly Cattle on Feed Report showed on-feed supply at 11.6 million head as of May 1st, up 2% fro…
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