Loading…
Live cattle and lean hog futures reached life-of-contract highs on Tuesday, driven by investment fund buying. Speculators already holding large net long positions added to them.
Packers had paid sharply higher cash prices for cattle the previous Friday, lifting margins.
Heavy speculative long positioning and higher packer margins support livestock futures, but the market is exposed to a sharp pullback if funds reduce positions.
country-guide.caMichael HirtzerOct 31, 2017Not enough comparable past events yet for a historical read.
Not 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.
Oct 31 fund buying pushed live cattle to contract highs after higher cash prices, adding momentum early in the window.
