LEM9: -.525 at 120.05, trading in a range of 1.075
LEQ9: -.375 at 117.35, trading in a range of .80
GFK9: -.65 at 149.925, trading in a range of 1.425
GFQ9: -.25 at 157.45, trading in a range of 1.275
Cattle Commentary: Cattle futures tried to rally early on in the session but failed to attract new buyers, prompting some minor pressure through the remainder of the session. There is a winter storm that is expected to sweep through the Midwest over the next two days, this has likely kept prices from rolling over the past two sessions. As mentioned in yesterday’s interview with RFD-TV, rallies will likely be opportunities to sell/hedge. Cash trade this week has yet to develop, but we would not be surprised to see prices come in steady with last week 123-124 in the south and 126-128 in the north. Tomorrow’s Fed Cattle Exchange has 510 offered.
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