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Heavy selling hit the market Friday and may continue to start the week. Stochastics is showing bearish divergence and profit taking by the longs will likely be a factor on a rally today. If prices bounce early in the session, selling pressure could result in a lower close. Could this be a long-term top? Too early to say but the extended nature of the move is certainly a warning sign for the bulls
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“A late-session rally in the cattle complex pushed prices up near the highs of the day at yesterday’s close,” the Hightower Report said. “In a…
“The June live cattle contract’s discount to cash continues to be a supportive factor for the nearby months. Screwworm cases have now reached …
“The cattle market traded both sides of unchanged but ended the session on a strong note and near the highs of the day,” The Hightower Report …
Bloomberg said, “JBS NV is closing a beef plant in Pennsylvania, in the latest sign of pressures meatpackers are facing amid a severe US cattl…
“Cattle turned sharply lower after a strong start yesterday on additional screwworm cases,” the Hightower Report said. “The total number of ca…
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