LEG8: -.975 at 119.425, trading in a range of 1.325
GFF9: -1.00 at 145.60, trading in a range of 1.55
GFH9: -1.325 at 144.075, trading in a range of 1.70
Cattle Commentary: In yesterday’s Livestock Roundup we said: “Bears have an advantage here, so bulls need to remain nimble.”. Nimble bulls had an opportunity to nibble at the low end of the range today as the market opened and retreated into our 4-star support pocket from 114.35-115.05. The pullback came on little new news and was more so a continuation of Monday’s technical breakdown (see our full technical analysis below). Today’s Fed Cattle Exchange had no sales, with only 310 head offered. The bulk of last week’s cash trade came in near 115.
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