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CME live cattle futures climbed for a fourth straight session to a fresh 4.5-year high on Monday, and lean hog futures also firmed. Supply disruptions, including understaffed packing plants and export restrictions on Brazilian beef after a mad cow case, supported prices.
Tight beef supplies and strong export demand, including Mexican pork buying and Chinese beef purchases, are pushing cattle and hog prices higher. Feedlot margins and feeder demand for feed grains and protein meals tend to improve when these prices rise.
reuters.comKarl PlumeNov 22, 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.
Nov 22 fresh 4.5-year high supported by tight supply from understaffed packing plants and Brazilian beef export restrictions, which gave the rally momentum.
