Live cattle

It has been a race to zero between cash cattle and the board, yesterday cash made another big drop with reports of 96 in the South and 97 being paid in the North by a major.
Live cattle futures traded to firm up but ended the session near unchanged after trading on both sides. We continue to question the value in front-month futures.
October lean hogs managed to put a tourniquet on today, finishing at session highs, a stone throw from limit up. The consolidation from Monday’s session is all you can ask for if you’re in the bull camp
With the sun-rising and the panic in the outside markets subsiding, it is possible we get a more normal trading session today for livestock.
October live cattle broker lower on the open on the back of a tweet from President Trump regarding Trade with China; “China was supposed to start buying our agricultural product now - no signs that they are doing so.
Unlike cattle, hog futures didn't get too excited about the cold temperature issue.
McDonald's has been on a tear since the election and has entered hyper drive this spring, rallying more than 20% in the second quarter alone. This pushed the world’s most famous fast food restaurant into overbought territory in the CPO. This creates a good selling opportunity as the CPO expects McDonalds to correct in the third quarter.
Yesterday's kill at 292,000 head cut a little deeper than our 312,000 estimate.
Traders spent the day discussing recent changes to cash hog pricing and the potential for a confirmed market top.

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