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- Live cattle futures are lower for the week, after trading higher on Monday.
- Supplies remain tight and the above normal temperatures should offer support.
- Seasonally, cash prices bottom between the 1st and 2nd week of September.
- Technically, it looks like the market may be rolling over and a close below $177.62 October would be bearish.
- Lean hog futures are higher for the week with potential bullish reversals on all contracts through June 2024.
- Seasonally, February futures rally from late August into early October, so that will likely be our next hedging opportunity.
- Cash prices should find a short-term low in early September and rally into early October as well.