Tridge summary
US live cattle futures saw a rise on Monday, driven by increased cash trade and expectations from the upcoming USDA's cattle inventory report. The most-active April live cattle contract saw a daily gain of 1.57%. Cattle slaughter numbers were also up compared to the previous year. Concurrently, hog processors in the US also reported an increase in hog slaughter numbers. The USDA reported pork carcass prices at $80.28 per cwt, marking an increase from the previous day.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
US live cattle futures firmed on Monday, supported by strengthening cash trade and in anticipation of the US Agriculture Department's biannual cattle inventory report, due out on Tuesday, reported Reuters. "Historically, the cattle inventory report wouldn't be that big of a market mover. But it is a good check in on where you're at in the cattle cycle," said Alan Brugler, president of Brugler Marketing. "Everyone's anticipating it's going to show fairly substantial herd liquidation." The US Department of Agriculture (USDA) is set to release its twice-a-year cattle inventory report on Tuesday at 3:00 p.m. ET. CME February live cattle firmed 2.025 cents per pound to 158.750 cents per pound, the highest on a continuous basis since April 30, 2015. The most-active April contract firmed 2.525 cents to 163.350 cents per pound, a 1.57% daily gain. CME March feeder cattle futures gained 0.450 cent to settle at 183.925 cents per pound. Cattle slaughter was strong to start the week, with ...
Source: Thepigsite
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