Cattle Futures - Live Cattle Flat-Higher
US - CME live cattle closed flat to higher on short covering, spreaders who bought June and sold April and CBOT corn's surge.What's more, a few bullish traders waited leadership from CBOT corn's outcry open after the grain traded mixed to mostly weak in overnight action.
However, positive outside market movement sparked live cattle pit confidence that was sorely lacking on Monday due to CME lean hog's limit-down trade. Spot April cattle gathered upward momentum after the contract filled Monday's chart gap.
Nonetheless, April pulled back from a session top amid soft midday boxed-beef quotes and aggressive late day April/June bear spreading.
Source: FXSTREET