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CME update: cattle futures mixed as traders await USDA report

18 June 2020

CME live cattle futures were mixed on 17 June.

Reuters reports that traders forecast that the USDA’s Cattle on Feed report, expected on 19 June will show May cattle marketings down 26.1 percent.

Chicago Mercantile Exchange August live cattle settled down 0.075 cent at 96.85 cents per pound. August feeder cattle futures settled up 0.700 cent at 133.575 cents per pound.

The wider livestock market is facing pressure from China’s meat importers. After a recent spike of coronavirus cases in Beijing was traced to a major market, ports began requiring coronavirus tests for all meat and seafood containers in an effort to prevent contamination.

Tianjin on the northern coast, the primary port for Beijing, started testing batches from every arriving container on Monday, two importers and an official briefed on the matter said.

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