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Above: Oliver Sloup was on RFD-TV this morning, sharing his thoughts on the livestock markets as we start a new week of trade.

We saw a gap lower in the cattle markets this morning, following Friday’s bearish cattle on feed report.  June live cattle opened at 163.10 and quickly traded to their low of 162.90, before staging a recovery rally back into positive territory for the day.  At the close, June live cattle was .025 higher, settling at 164.55, the next most active August contract was .10 lower to 163.45.

Feeder cattle futures saw a similar style of trade to live cattle.  August futures, the most actively traded contract, gapped lower, opening at 228.50 and marking a low for the day shortly after at 227.725.  The market managed to recover, finishing the day’s trade just .55 lower, settling at 229.325.  May futures were under a bit more pressure, settling 1.65 lower to 210.75.

June lean hogs were able to string together their second consecutive positive close, settling the day 1.275 higher to 87.35.  The December contract, which we’ve referenced serval times in recent reports and interviews, settled the day .45 higher to 77.25.

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