The Hightower Report said, “The cattle complex rallied in the last hour of the day yesterday to close higher and at a new high for the month. The heavy liquidation in the October contract continued with another open interest decline of just over 9,000 contracts and overall open interest in live cattle fell 3,200 contracts, while feeders were down 1,572. Daily trading volume every day this week has been better than average and with the trend of higher highs and lower lows over the last five sessions, the bulls are strengthening their grip and the path of least resistance is higher.”