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DTN Closing Livestock Comment 11/30 16:00

30 Nov 2023
DTN Closing Livestock Comment 11/30 16:00 Cattle Futures Erode Thursday Cattle futures took a step back Thursday as buyer support quickly eroded, pulling back from the gains over the past two sessions. End-of-month position squaring created some additional concerns that markets may find additional gains challenging. Rick Kment DTN Analyst GENERAL COMMENTS: Strong, triple-digit losses swept through live cattle and feeder cattle trade Thursday as all contracts quickly pulled back from the past two days of higher moving markets. Both markets remain firmly rooted above lows set early in the week, but the lack of support on the last day of November is creating additional concerns that prices could remain stuck in the current but weak price pattern for the foreseeable future.