Live cattle futures hit the highest on the Chicago Mercantile Exchange in United States

Published 2022년 11월 21일

Tridge summary

Live cattle futures on the Chicago Mercantile Exchange (CME) reached a nearly three-week high due to strong cash cattle markets and speculative buying, supported by a tighter supply of market-ready cattle as reported by the US Department of Agriculture. The CME's most-active February live cattle futures settled at 155.850 cents per pound, and feeder cattle futures also saw an increase. However, lean hog futures closed lower, with the most-active February contract falling 1.250 cents at 89.550 cents per pound.

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Original content

Live cattle futures on the Chicago Mercantile Exchange (CME) hit the highest in nearly three weeks on Friday, supported by firm cash cattle markets and what appeared to be speculative buying, Reuters reported, citing analysts. Most-active CME February live cattle futures settled up 0.450 cent at 155.850 cents per pound after reaching 156.125 cents, the contract's highest since November 1. The spot December contract rose 0.325 cent to finish at 153.075 cents per pound. CME January feeder cattle ended up 0.800 cent at 180.775 cents per pound. Live cattle drew support this week as cash cattle traded in Kansas at $151 to $152 per hundredweight (cwt), up $1 to $2 from last week, and in Texas at $150 to $151 per cwt, steady to $1 higher from last week. "The cash market being firm is a part of it," said Alton Kalo, economist at Steiner Consulting Group, of the strength in cattle futures. "There is some speculative interest that wants to come in. The Cattle on Feed report that came out ...

Source: Thepigsite