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“It appears the April hog market pulled a fast one on the bull camp and us last week with a false breakout into new contract highs that has failed to carry higher,” The Hightower Report said. “Toay’s gap lower and sharply weaker close is a significant disappointment for the bulls and short-term technical indicators have now turned lower.”
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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…
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…
“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…
On boxed beef cutout values, the USDA said:
“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…
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