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CME live cattle futures extended their contract highs on a jump in cash cattle prices, with cattle trading as high as $180 per cwt in Texas and Kansas. Choice wholesale beef rose to its highest level since May 1, and feeder cattle also set contract highs.
Strong cash prices and rising boxed beef values pull futures higher, signaling firm demand for cattle and feed. Feeder cattle strength raises the cost of finishing animals.
agcanada.comAGCanadaJun 3, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Futures extended contract highs on surging cash cattle and higher wholesale beef.
Rally extended on surging cash market and contract highs, with higher wholesale beef supporting packer bids.
