It was mostly a consolidation day for livestock futures on Tuesday. This was particularly the case for cattle following the limit down day on Monday, write CME analysts Steve Meyer and Len Steiner. Ongoing weakness in broader markets continues to keepcattleon the defensive. There are plenty of opinions about price direction for cash cattle/boxed beef prices in the short term, given the start of Lent season (Feb 10), a week earlier than a year ago. Hogfutures have been trading sideways for the past few days. Cash prices have been stronger than some expected and it is interesting to note that hog weights have declined sharply in the last two weeks, an. Read more...
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