Tridge summary
CME live cattle futures reached a nearly 8.5-year high as front-month contracts experienced a firm close, driven by tight supplies anticipating strong cash prices in the upcoming months. Hog futures showed mixed results. The front-month live cattle contract's final settlement price was the highest since December 2014. Wholesale boxed beef prices remained steady to firm, with Choice cuts increasing by 61 cents from the previous day. Feeder cattle futures also saw a slight increase, reaching their highest since November 2015, while lean hogs ended slightly up.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Chicago Mercantile Exchange (CME) live cattle futures ended firm on Tuesday, with the front-month contract hitting its highest in more than eight years as tight supplies continued to underpin the market, Reuters reported. Hog futures ended mixed. Expectations for strong cash prices for the next few months due to tight supplies supported cattle futures. Thinly traded February live cattle futures jumped 2.5 cents to 167.5 cents ahead of its expiration. The contract's final settlement price was the highest for the front-month contract since Dec. 3, 2014. Most-active April live cattle closed 0.5 cent higher at 165.475 cents per pound. Wholesale boxed beef prices were steady to firm. Choice cuts were priced at $288.95 per cwt on Tuesday afternoon, up 61 cents from a day earlier, according to US Department of Agriculture data. Select cuts were unchanged at $279.25 per cwt. CME March feeder cattle futures settled 0.625 cent ...
Source: Thepigsite
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