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Cattle falls big again

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“The (cattle) market gapped down the limit today and stayed limit down into the close,” the Hightower Report said. “A weekend fire at a Tyson slaughter plant has shut the slaughter plant down indefinitely and while the plant will be rebuilt, this was seen as a key bearish force. The news sparked selling as less demand for live inventory is seen as a bearish force.”

It was a volatile day for hog markets. “October hogs are closed slightly lower on the day with volatile trade,” the Hightower Report said. “The market opened lower and traded moderately higher on the day into the mid-session and then gave back all of the gains and closed near the middle of a 412 point range.”

This article originally ran on agupdate.com.

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