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CME live cattle nearby contracts fell as funds rolled June positions into later months. June live cattle closed 0.975 cents lower at 104.85, while feeder contracts gained on short-covering and firmer cash feeder prices.
Roll-related selling pushes nearby futures down even though cash cattle and beef values remain firm. Feeder cattle strength raises the cost of placements for feedlots.
agcanada.comAGCanadaMay 2, 2018Not 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.
Fund roll of June positions into later months pressured nearby live cattle contracts on May 2, adding to the decline.
Fund rolling out of nearby June live cattle into later months pushed the contract down about 1 cent on May 2, which adds directly to the weekly decline.
