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CME live cattle futures rose on firm wholesale beef prices, with choice cuts up $1.47 to $269.24 per cwt ahead of expected Labor Day retail demand. Lean hog futures also climbed on strong cash prices that lifted both the nearby and October contracts.
Feeder cattle futures firmed as well.
Strong cattle and hog prices reflect tight market-ready supplies, which supports livestock values and the feed demand that comes with them. Analysts warned that recession fears could weigh on beef demand later.
thepigsite.comMelanie EppJul 31, 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.
