LEG9: -.475 at 124.825, trading in a range of .675
LEJ8: -.25 at 125.90, trading in a range of .625
GFF9: -.825 at 146.80, trading in a range of 1.025
GFH9: -.725 at 144.725 trading in a range of 1.00
Cattle Commentary: Cattle futures finished the past two sessions with some conviction, but that fizzled slightly in today’s session as recent buyers were looking to reduce risk (take profits). As mentioned in yesterday’s report, we have been working with hedgers and speculators to take advantage of this pop. On the cash side of things, there has not been a lot to report on. Optimistic market participants are looking for another pop in cash. We tend to keep the expectations tempered, even if we get the move in cash, the market has likely been pricing that in this week. Today’s Fed Cattle Exchange was a skunk with 571 head offered.
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