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CME August live cattle settled up 4.7 cents at 172.375 cents/lb after a contract high, and August feeders rose to 241.65 cents/lb. USDA choice beef was priced at $306.44/cwt, while CME July lean hogs settled mostly lower at 82.05 cents/lb.
Strong packer demand and tight cattle supply are lifting cattle prices, while softer hog futures signal weaker pork demand for feed buyers.
farmtario.comJulie IngwersenJun 2, 2023Not 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.
CME live cattle hit contract highs as cash prices exploded and boxed beef firmed, reflecting packer demand for tight supplies.
Contract-high settlements as cash prices jumped confirm the demand and cash-led futures rally.
