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CME live cattle futures closed higher after investors bought October contracts and sold deferred months in bull spreads. Some traders also bought cattle futures while selling lean hogs.
Packer bids for cash cattle in Nebraska and Texas were $101-102/cwt, below asking prices of at least $107.
Fund buying on technical breakouts and expectations that cash cattle are bottoming support live cattle prices. Heavier cattle and packer resistance to paying more limit the upside for feeder margins.
country-guide.caTheopolis WatersSep 7, 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.
