Austin Schroeder at Barchart.com said “Live cattle futures posted Tuesday strength of $2.80 to $3.45 in the nearbys at the close. Cash sales reported early last week at $201 in the South, with late week sales jumping up to $208 in Kansas. Northern trade has pushed up to $205-212, with a bulk at $210-212.” The Hightower Report said “Live cattle prices started rallying in the middle of last week on strong cash trade and the bullish cattle on feed on Friday further emboldened the bull camp. Shorts are getting chased out and the high on this blow off top is anyone’s guess. Packers are likely to have to bid up again this week.”
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