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CME live cattle futures rallied on short-covering, with April live cattle up 1.25 cents to 126.8 cents and June up 2.15 cents. Feeder cattle contracts also gained as traders judged the previous week's selloff overdone.
Packer margins improved sharply after the cash price decline.
Improved packer margins and short-covering support futures after a steep decline, though cash cattle prices remain well below prior levels. The rebound is more technical than a change in underlying supply.
country-guide.caTheopolis WatersApr 26, 2016Not 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.
