CME update: cattle futures rise after a three-session slide
US live cattle futures rose slightly on bargain buying after a slump earlier this week.
4 June 2020
1 minute read
Reuters reports that weak cash cattle prices and falling wholesale beef prices continue to hang over the market, frustrating any potential rallies.
The USDA reported that market-ready cattle traded as low as $109 per cwt in the US Plains on 3 June. This is down from last week’s highest trades, which clocked in at $120 per cwt.
CME June live cattle futures settled up 0.150 cent at 95.450 cents per pound and benchmark August rose 1.150 cents to end at 97.350 cents.
CME August feeder cattle futures closed up 0.800 cent at 134.225 cents per pound.
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