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Cattle futures fell sharply on Friday as money managers booked profits after a rally that made live cattle the best-performing commodity so far in 2017, up 37% for the year. Feeder cattle futures fell to their lower limits, and wholesale beef prices had risen about 15% in less than a month.
Profit-taking after a steep rally points to lower cattle futures in the near term, although underlying beef demand remains firm and supports cash prices.
foxbusiness.comBenjamin ParkinMay 5, 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.
