LEG9: .425 at 126.475, trading in a range of 1.025
LEJ8: .475 at 127.325, trading in a range of 1.15
GFH9: .825 at 144.45, trading in a range of 1.75
GFJ9: .95 at 145.675, trading in a range of 1.65
Cattle Commentary: Cattle futures were mixed in the morning with the bulk of cash trade last week came in from 122-123 live, which was softer than the previous week and below a lot of expectations. Dressed came in at 197. Though we thought this was a disappointment, today’s futures board thought differently with the February contract rallying to 126.475. An arctic blast sweeping through the Midwest this week could have added extra support into what we think is a tired market. By tired, we mean that we are expecting prices to trade in a more defined range, not necessarily fall apart.
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