No deliveries yesterday for June cattle.

There were zero deliveries against the June live cattle contract yesterday afternoon. Traders fell this contract is about priced right with cash. If we had a normal basis then June futures would be implying cash this week and next at $137 using today's close. With the recent weaker than normal basis we could suggest the market is implying $135/$136. At this time we're not sure how much upside June can see in the short term.

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