Loading…
CME live cattle futures slipped on Thursday as traders awaited remaining cash cattle trades, with February live cattle closing 0.25 cent lower at 116.525 cents/lb. Plains cash cattle bids were $116 against $122 asking, and the beef cutout rose 93 cents to $189.27/cwt.
Cash bids well below asking prices and large fund long positions point to downside risk for live cattle futures, while reduced slaughter estimates may signal packer cutbacks that could support beef values.
agcanada.comAGCanadaFeb 16, 2017agcanada.comAGCanadaFeb 14, 2017Not 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.
