$15.50 rally in 11 trading days; Third time this year

It happened in January, then in June and now in September, monster rallies, occurring in a relatively short time frame surging from $14.06 to $16.42 in under a month. And Thursday’s extremely volatile price action, as shorts and bear spreaders blew out of October live cattle (LC), was done on huge volume, 129,874 contracts, not quite a record, ripping 10k contracts of OI out of Oct LC and leaving net OI down over 5k, only 2k off of the recent low, coming in at 307,874. Read more at The Beef…