Strong exports support cattle markets

“All-time highs yesterday for the front months of the live cattle, as well as feeders and the cash feeder index,” the Hightower Report said. “Strong weekly exports were a positive factor yesterday. There has been no progress in trade talks with Brazil following the 50% tariff implemented on Wednesday.”

“Hog market action has been disappointing the last couple of sessions as prices have pulled back following the early week breakout of the mid-July range on December futures and large China purchases of U.S. pork last week,” the Hightower Report said. “The cash hog index was lower yesterday but cutout values were strong again.”