Cattle Futures - Live Cattle Uneven

US - CME live cattle settled mixed on cash caution and pre-Goldman roll activity that weighed on February through June. Meanwhile, remaining cattle contracts rose slightly lower on periodic CBOT corn spikes.
calendar icon 3 March 2008
clock icon 1 minute read
Beef futures opened mixed featuring cash expectations, profit taking and give-and-take between April/June forward spreaders and longs that rolled out of April into June. Back cattle month options also tossed and turned as some traders sold new contract highs, while others were inspired by sporadic CBOT corn upswings.

Spot-February retreated before its 1 p.m. expiration as it accounted for this week's potential cash trade. And April eventually bore the brunt of aggressive movement by longs out of the contract into June.

After futures closed, fed cattle in Nebraska exchanged hands at $93 per hundredweight on a live basis. Cattle owners are holding out for more money elsewhere.

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