Moderate pressure for cattle futures. Wholesale beef has stabilized.

Fed and feeder cattle futures started out lower. April fats filled a downside intra-day gap on the charts from two days ago. Bulls will point out a gap is now left to yesterday's strong 165.10 close that may need to be filled. The trade is debating just how much is left in this cash market. Futures imply imply $3 more over the next two months.

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