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Cattle futures were pummeled as the news of the avian flu virus in dairy cattle continued to circulate. Funds continued to liquidate long positions. Hog futures found substantial strength as they were benefiting from the avian flu virus and reacting to strong cash and cutouts for much of the week.
Cattle futures tried to push higher Tuesday but could not hold early gains into the close. Higher cash is already factored into the market. Hog futures had a large price swing, but either challenged or made new contract lows by the close.