Cattle Commentary: Today’s cattle futures trade was about as lack luster as it gets, so not a whole lot to report here. Cash trade has yet to develop but many are optimistic on higher prices. “Many”, meaning higher cash is likely priced in and steady cash would be more bearish than neutral. We do not think the market is going to fall apart, but we think the risk/reward favors the bears here in the very near term, see the technical section below for details.
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