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“February cattle are higher at midsession and are holding their gains from last week’s bounce off 13 ½ month lows,” the Hightower Report said. “The managed money net long had fallen to 27,723 contracts as of Tuesday, their smallest net long since July 2022, and that was before the steep selloff on Wednesday.”
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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…
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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