Cattle on Feed confirms a return to lower placements. Q2 supplies will be tight.

This week, when including Friday's trade, would be a win for October live cattle. Today's high in October was just 0.15 from the current high posted Wednesday. The week to week change is also positive at +0.15 from last Friday's close. This is a victory. It is a new highest close. We do have one crack in this cattle complex story though. October feeders were unable to recover. Over five days October was -5.32.

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