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CME live cattle futures retreated on Friday, April 14, 2023, after rallying to all-time highs over the previous three sessions. Cash prices had surged as tight U.S. supplies, reduced by bad weather and high feed costs, forced meatpackers to pay more.
Analysts said profit-taking and technical selling drove the pullback, though new highs remained possible.
Tight cattle supplies keep cash and futures prices elevated, so buyers should expect continued volatility around record levels. Profit-taking pulled futures lower, but supply tightness still supports prices.
reuters.comTom PolansekApr 14, 2023Not 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.
