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CME update: cattle futures rise on bargain buying

18 January 2021

US live cattle futures rose on 15 January on some bargain buying but still posted their first weekly loss in five weeks.

Reuters reports that signs of weakness in the cash markets kept a lid on potential market gains.

April live cattle futures ended 0.975 cent higher at 118.2 cents per pound, settling above its 30-day, 40-day and 50-day moving averages.

For the week, the contract dropped 0.9 percent, its biggest weekly loss since the week ended 5 November.

March feeder cattle gained 2.45 cents to 135.825 cents.

Read more about this story here.

Source: Reuters


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