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CME live cattle futures closed higher on August 20 for a second session, supported by strong wholesale beef demand ahead of the Labor Day weekend. Choice boxed beef cutout reached $241.70 per hundredweight, the highest in more than two years.
Strong wholesale beef demand and rising cutout values give packers incentive to buy more cattle, supporting live cattle prices. Tight supply from the Tyson plant closure adds to the upward pressure.
country-guide.caJulie IngwersenAug 21, 2019Not 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.
