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Cattle markets shook off Friday’s bearish close and rallied on Monday. The trend is still up, traders waiting to see if cash market strength continues. Boxed Beef jumped another $4.23 to 382.11, seeming to show that higher prices are still ahead for both Live and Feeder Cattle prices. Lean hogs posted a new contract high close and started the week strong, following a pause in momentum last week. Bean Oil continues to be the bullish standout, closing 4.50 higher yesterday on expanded limits. Soymeal took the brunt of that, dropping 7.90 on Monday. Soybeans seem to be stuck in the middle, but with a mildly bullish bias, I think. Corn dropped to the lowest close since just before Christmas. Wheat futures seem to be hugging the 50 day moving average, perhaps trying to break out higher, but have been unable to successfully do so yet.