Trade Positions For USDA Report Day

Cattle – Trade remains choppy/uncertain, cash bids stronger than expected, BB easing lower again

↔ Yesterday’s PM BB was choice -2.51 Select -1.83 packer BE at 192.73, packer cushion $4.65

↔ Trade attempted a couple bounces but showed signs of being uncertain and not ready for a bounce

↑ First cash bids in NE were 189, -$1.50 from last week but that is actually supportive given that trade

has pre priced in cash around $5 lower than last week

↓ BB has moved lower again and could now limit potential bounces even when panic trade slows

↓ BB has been our guide successfully for over 6 months and is now showing signs of moving lower, we

still can look for some type of post panic trade bounce but may now find quick resistance on bounces

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