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Hogs may see 'major collapse' in cash markets

Hogs may see 'major collapse' in cash markets

Cattle is being called steady to lower this morning after continued selling pressure to open the week, Total Farm Marketing said. The fire at a Nebraska JBS plant helped pressure the market, taking an estimated 6,000 head capacity offline. “It is still uncertain how long the plant will be idle.”

The Hightower Report said the hog market is pricing in “a major collapse” in the cash market in the weeks coming up. “Volume has been increasing the last several days and open interest is down to the lowest level since February 22 as fund trader long liquidation has been active.”

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Boxed beef cutout values this afternoon were lower on both Choice and Select, the USDA said.

Boxed beef cutout values this afternoon were higher on both Choice and Select, the USDA said.

Hogs are trading “steady to higher on follow-through from bottoming action yesterday highlighted by short covering,” Total Farm Marketing said…

Cattle futures are being called “steady to weaker” after lower trade yesterday as prices consolidate after Tuesday, Total Farm Marketing said.…

Boxed beef cutout values this afternoon were lower on both Choice and Select, the USDA said.

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