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“The bulls need to see some high range closes to signal the current break has run its course,” the Hightower Report said. “…Packer margins have improved significantly. Dow Jones estimates for the upcoming cattle on feed report on Friday at 102.5% on feed, 93.5% place and 92.6% marketed. The first border crossing at Douglas, Ariz., will be opened next week, and cattle will begin to come across, but early totals are expected to be light. Eventually we will see higher placements in the southern regions as more Mexican cattle arrive.”
