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CME live cattle futures rose for a sixth straight session to a front-month high not seen in about 4.5 years, with the February contract at 140.875 cents per pound. Cash cattle bids in the southern Plains rose from $136 to $140 per cwt, and CME feeder cattle hit their highest front-month level since 2016.
Higher cash prices and firm beef demand lift feeder and fed cattle values, which raises the cost of finishing feed-lot cattle and supports demand for feed inputs. Rising Chinese beef imports add to the upward price pressure.
financialpost.comReutersNov 24, 2021Not 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.
Live cattle hit a 4.5-year high on Nov 24 on a sixth straight gain, with southern cash bids up from $136 to $140, directly driving the 5-day advance.
