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CME live cattle futures rallied on Sept 6 to their highest level in nearly four weeks, with October settling 2.750 cents higher at 182.700 cents per pound. Feeder cattle also rose, and brokers cited unconfirmed cash trades near $179 per cwt in Kansas.
Drought-reduced cattle supplies and steady consumer beef demand support futures, though the market remains in a sideways pattern with no confirmed cash trades to drive a breakout.
thebeefsite.comMelanie EppSep 6, 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.
