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CME live cattle futures reached a two-month high on Monday, with December contracts hitting 132.500 cents per pound before ending near 132.100. Traders pointed to expected solid holiday beef demand and firm cash cattle prices.
Packers killed about 121,000 cattle, up from 118,000 a year earlier.
Firm cash trade and strong packer demand for fed cattle support live cattle futures. Buyers of beef-side feed and cattle-linked costs should expect continued firmness into the holiday season.
reuters.comTom PolansekNov 8, 2021Not 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.
