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The cattle market is running into some technical resistance in the trade, even as strong growing conditions over the…
The cattle market hit a wall midweek, reminding traders just how fast conditions can shift. Futures opened sharply lower, bounced briefly, then fell again. Live cattle dropped $1.50 to $2.65, while feeder cattle slid $3 to nearly $5. On this week’s Cattle Chatter, Brad Kooima with Kooima Kooima Varilek breaks down the cash vs. futures trade action. Cash trade is developing in the Plains—Nebraska reported $229 live and $358 dressed, both stronger than last week. Kansas and Texas are mostly steady to slightly weaker. Choice beef cutout values are firmer, but packer margins remain deep in the red—down nearly