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CME update: cattle futures end higher as cash prices maintain discount

29 May 2020

US live cattle futures ended mostly higher on 28 May.

Reuters reports that nearby CME contracts were lifted by steep discounts to cash cattle prices.

June live cattle settled 0.675 cent higher at 101.475 cents per lb, while actively traded August rose 0.450 cent to 101.175 cents per lb.

Cattle have traded at central and southern US Plains feedlot markets this week from $113 to $120 per cwt, about steady with a week ago but well above nearby futures prices.

Feeder cattle futures largely followed live cattle higher, with benchmark August futures up 1.425 cents at 135.500 cents per lb.

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