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CME livestock futures rose on Tuesday after the Labor Day weekend, as traders hoped slaughter pace would pick up for both cattle and hogs. October live cattle settled up 0.5 cent at 145.05 cents per lb, and choice boxed beef gained $1.07 to $260.49 per cwt.
Lean hog futures also closed higher, with wholesale pork carcass prices rising $3.78.
Rebounding boxed beef and pork values support live animal prices by improving packer margins. Renewed slaughter pace reduces near-term supply pressure on cattle and hogs.
thebeefsite.comGlobal Ag MediaSep 6, 2022Not 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.
