Live Cattle futures remained steady as a firm cash trade provided support for current prices despite a soft trading range. Feeder Cattle futures showed firmness as boxed beef prices edged higher and commitment of traders data indicated that money managers are increasing net long positions in both feeders and live cattle. Conversely, Lean Hogs futures gapped lower following a decline in cash and cutout values, potentially signaling an overbought condition. While prices saw a sharp drop, market participants are watching for fundamental support as demand remains resilient and money managers maintain long positions.
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