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Friday’s live cattle market extended the rally with another triple digit gain. That left the Feb contract up a net $3.62 for the week. Friday’s cash cattle sales ranged $165 - $170 for the few reported. USDA maintained the bulk of action this week was near $168 and $268 in the beef. Feeder cattle ended $1.55 to $2.27 higher across the front months, with a net $5.60 gain for the week in Jan contracts, says Barchart.com.
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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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