Loading…
CME live cattle futures hit new contract highs on Sept 14, with October up 2.325 cents to 185.475 cents per pound and December reaching 190.550 cents. Brokers attributed the rally to short-covering and tight US supplies, with the US beef cow herd at its lowest since 1962 after drought.
Tight cattle supplies and reduced packer margins support higher live cattle prices, while seasonal softness in wholesale beef limits the upside for feeder and fed cattle values.
reuters.comTom PolansekSep 14, 2023Not 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.
