Feb cattle futures imply +$1 cash this week. The delivery process has started.

Today's trade may have been a little quiet with new highs posted for a many live cattle contracts but a close that was lower on the day. We would not call today a major rejection just yet though. The trade expects one more week of gains for cash this week. Still in the conversation is this week's storm and Canadian trucking. These are offsetting low weekly export sales and slowly rising weights.

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