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CME live cattle futures surged as cash cattle traded up to $9 higher than the previous week. Choice cuts of beef gained while select cuts fell, and lean hog futures closed mostly lower.
Packers are bidding up cattle to meet demand while supplies remain tight, keeping feeder and fed cattle prices elevated. The move reflects routine price action rather than a new supply shock.
thecattlesite.comMelanie EppJun 2, 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 surged as cash traded up to $9 higher week over week.
Futures surged as cash cattle traded up to $9 higher week over week, confirming the cash-led move.
