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Chris Lehner at ADM Investor Services said, “Trade volume for live cattle was moderately active Monday. There was liquidation due to uncertainty. April closed below the 100 day moving average for the first time since December 4, 2025. Trade volume increased but it is still much lighter than it was in 2025. From June on out, prices closed above the 100 day moving average. Bull spreads have contracted but haven’t moved into bear spreads.”





