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Live and feeder cattle futures finished higher on the CME on Thursday, driven by technical buying. October live cattle rose $1.07 to $144.12, and October feeders gained $2.32 to $177.32.
Cash trade was light, with Southern live deals at $143 and Northern dressed business at mostly $228.
Technical buying lifted futures, but the cash market is steady to slightly lower, so the rally may lack fundamental support. Feeder buyers should expect firm but volatile pricing into the weekend.
brownfieldagnews.comMeghan GrebnerSep 29, 2022Not 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.
