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CME live cattle futures closed higher on commercial buying, with December and February setting new contract highs but closing below session highs. Feeder cattle followed the live pit higher, and boxed beef closed weak on light demand for heavy cuts.
Direct cash trade was quiet, with a few sales reported in Iowa and Nebraska.
Higher futures reflect expected solid beef demand, but weak cutout values limit how far cash prices can follow. Feeder and live cattle prices are bullish on balance.
brownfieldagnews.comDec 27, 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.
