CME update: live cattle futures reach highest price since 20 August

US live cattle futures gained on 7 October but feeder cattle prices saw uneven trading.
calendar icon 8 October 2020
clock icon 1 minute read

Reuters reports that CME October live cattle futures rose 0.975 cent to 110.175 cents per pound and reached their highest price since 20 August. Most-active December cattle rose 1.150 cents to 113.100 cents.

CME November feeder cattle fell to their lowest price since 2 July before rebounding to close up 0.350 cent at 137.875 cents per pound.

Traders on Thursday 8 October will assess weekly USDA export sales data for Chinese demand. A fatal pig disease has created a domestic meat deficit in China, the world's top pork consumer, and increased the need for imports.

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Source: Reuters

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