Day of Data

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No major changes are expected on today’s report and it is likely that within a few days attention will

quickly turn to the potentially larger June 28th report that will update acreage and quarterly stocks.

Cattle – An easing in anticipation of a lower cash bid due to the high showlist, BB still grinding higher

↔ Yesterday’s PM BB was choice +0.79 Select -0.42 packer BE at 196.48, packer cushion $11.35

↓ Futures eased yesterday and may do so a little more today in anticipation of a lower cash bid due to

the showlist being +25K this week

↑ BB again continues the slow grind higher which keeps a positive outlook longer term

↔ We may see cash bids today but unlikely to see cash trade as first bids are likely to be $2 to $3 lower

which is a level most sellers will hold off on at least early in the week

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