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April live cattle rallied $3.30 and set new contract highs for the week, with other front months also higher. The CME Feeder Cattle Index rose to $180.90, and USDA reported lower boxed beef prices on Friday with Choice down 36 cents.
Higher live and feeder cattle futures reflect tight supply, though softer boxed beef prices limit upside for packers and feedlot margins.
barchart.comAlan BruglerFeb 6, 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.
April live cattle rallied to new contract highs in the week's trade, which matches the Feb 6 gain and shows follow-through buying on tight supply.
