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Live cattle floated along Monday uncertain of what cash will do this week. Feedlots dug in last week, but will they remain unified another week? Hogs could not push higher with uncertainty over cash.
The pressure was on cattle futures again Tuesday with feeder cattle posting substantial losses. Early cash trade showed further weakness. Hogs held their own as futures consolidated despite higher cash Monday and a possible turn in trend.
Cattle and hog futures did an about face Thursday with cattle suffering triple-digit losses while hogs showed triple-digit gains. It seemed that the expiration of October feeder cattle Thursday and the last trading day for cattle Friday caused the market to melt back. Hogs made a nice technical bounce.