The Hightower Report said, “Another contract high this morning for live cattle and feeders but prices succumbed to long liquidation before the weekend and faded late in the session, closing lower. Both LC and FC closed with potential key reversals lower but recent reversals have not proved to be the final top so time will tell if this one is significant. After reaching a deal at the Greeley meat processing plant earlier this month, the labor union at JBS owned, Denver Processing, voted to go on strike but the date has not yet been determined. The extremely strong cash prices this week have certainly been the major bullish driving force and if cash prices do not weaken next week, the futures uptrend is likely to continue.”