LEG9: 1.525 at 121.70, trading in a range of 1.775
LEJ8: 1.30 at 122.925, trading in a range of 1.525
GFF9: -.25 at 144.25 trading in a range of 2.20
GFH9: -.325 at 141.775, trading in a range of 2.10
Cattle Commentary: February live cattle not only erased all of yesterday’s losses, but also managed to post their highest price in a month. The rally largely technically driven in what was an impressive performance considering the S&P got clobbered to the tune of 3%. When stocks see this kind of pressure, it is not out of the ordinary to see a lid on cattle as concerns over forward demand seep into the market. U.S. stock futures close at 8:30 am cst tomorrow in observance President Bush’s funeral.
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