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Live cattle futures saw two-sided trade today and ended narrowly mixed, which was good for a mid- to high-range close. Early support came from ideas the downside has been overdone recently, as futures remain oversold according to the 9-day Relative Strength Index. But early buying was limited as traders factored in a negative Cold Storage Report, which showed frozen beef stocks at the end of December above expectations.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.