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CME cattle futures pulled back from the prior week's rally as traders positioned ahead of the USDA Cattle on Feed report. Choice boxed beef rose $2.21 to $322.86 per cwt, and December lean hogs rose 0.45 cent to 78.275 cents per pound.
Firm boxed beef and tight herd supplies keep cattle prices supported, while the pullback reflects short-term positioning rather than a change in fundamentals.
thecattlesite.comMelanie EppOct 22, 2024Not 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.
