Feeders gap higher today despite disappointing cash cattle trades. July 19, 2022
A higher close for fats and feeders today was positive. That came despite $136 light cash cattle trades in the South. Colorado sold some at $141 today. Last week's sales in that region were $142 - $145. August feeders gapped higher today. From today's lows there is a 55 cent downside gap. Three supply based USDA reports are coming Friday afternoon. In the short term, bears speculate about this heat's potential to restart big placement numbers.
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