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CME livestock futures eased on Friday as traders took profits after cattle contracts hit new highs the previous session, and grain price gains added pressure. February live cattle fell 0.95 cent to 157.900 cents per pound and March feeder cattle eased 0.550 cent.
USDA reported weekly beef export sales with Japan as the largest buyer.
Profit-taking after record highs and higher feed costs weigh on near-term cattle prices, though traders still expect tight supplies to support prices into 2023.
thebeefsite.comMelanie EppJan 2, 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.
