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August cattle traded to a new contract high yesterday but closed lower, and it may need to do some back and fill before it resumes its uptrend, according to the Hightower Report.
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August cattle traded to a new contract high yesterday but closed lower, and it may need to do some back and fill before it resumes its uptrend, according to the Hightower Report.
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The Hightower Report said, “A lower finish for live cattle and feeders on Friday. JBS announced the closure of 2 beef plants, one in Pennsylva…
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…
“July tested Monday’s 7-month low on ongoing technical weakness and fund selling,” the Hightower Report said. “The daily chart has yet to show…
“Another sharply higher day across the cattle complex yesterday with prices opening on the low of the day near steady and closing on the highs…
“A very bullish close across the cattle complex today with sharp gains in both live cattle and feeders. New all-time highs in U.S. stocks seem…
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