New highs for cattle. February 13, 2023
New contract highs were reached today for the February and April live cattle contracts. June retested its prior high. Markets gapped open higher, on Friday's strong afternoon cash cattle trade, temporarily broke to fill most of the gap, and rebounded into the close. This was the best close of this uptrend for the front two contracts. March feeders posted an Outside Day that closed higher.
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Allendale Insider
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Possible light fund short covering yesterday
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Funds sellers of 21K, slightly higher support due to exports
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SA maps still look solid for rains in the 10 day
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Trade expects strong exports and more 8 AM announcements
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Open interest continues to fall drastically
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