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CME cattle futures rose to fresh contract highs on technical buying and firm cash markets. Live cattle contracts rose for nine straight sessions and feeder cattle for six, while hog futures closed weaker despite higher pork prices.
Strong seasonal grilling demand and tight supplies are supporting cattle prices heading into summer. Traders flagged overbought conditions, so the rally could pause.
thecattlesite.comMelanie EppJun 7, 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.
Nine straight sessions of gains to contract highs on technical buying and firm cash markets, extending the move through June 6.
