Loading…
CME live cattle futures reached their highest level in nearly three months on Thursday, driven by short-covering and optimism for cash prices. Packers bid $111 per cwt against $116 asking prices, and feeder cattle futures also rose.
Fewer cattle for sale and strong packer margins were cited as supportive.
Tighter cattle supplies and strong packer margins support higher cash and feeder prices, which raises the cost of feeder cattle for feedlot buyers.
country-guide.caTheopolis WatersOct 26, 2017Not 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.
Short-covering and optimism about cash prices lifted futures to a three-month high, which started the rally that led into the move.
