Cattle Commentary: Cattle future firmed on the open as outside markets shrugged off trade uncertainty. The early morning rally failed to attract new buyers into the market which ultimately led to a technical failure (see full technical breakdown below). Cash trade has yet to get underway this week, but expectations are for cash to soften up yet again. Early bids are coming in around 116. Tomorrow’s Fed Cattle Exchange has 376 head offered. We continue to believe that the cash and board will work together and converge over the next month, but right now cash is doing the heavy lifting.
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