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CME live cattle futures touched a three-month high on Thursday, with the April contract hitting its daily limit as short-covering and fund buying lifted prices. Traders linked the gains partly to USDA's semi-annual cattle inventory report showing slower herd expansion and to drought shrinking winter pastures.
Tighter front-end cattle supplies and cold weather slowing gains support higher live cattle prices, which also lifts feeder cattle and feed demand expectations for feedlots.
grainews.caGFM Network NewsFeb 1, 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.
