Live cattle futures on the Chicago Mercantile Exchange hit fresh contract highs once again on Tuesday, with expectations for declining U.S. inventories behind some of the buying interest.
Live cattle futures on the Chicago Mercantile Exchange hit fresh contract highs on Monday, while feeder cattle ran into resistance and backed away from their own highs to settle with small losses.
Live and feeder cattle futures on the Chicago Mercantile Exchange were weaker on Thursday, as losses in the grains and oilseeds spilled into the livestock markets.
Live cattle futures on the Chicago Mercantile Exchange were stronger Monday, hitting fresh contract highs in many months as forecasts calling for cold temperatures across United States ranching areas raised concerns over reduced weight gains for grazing cattle.
Feeder and live cattle futures turned higher on Thursday, as technical trading, a steady cash market and weakness in grain futures gave cattle contracts a boost.
Mercantile Exchange live cattle futures ended mostly lower on Wednesday, consolidating a day after the benchmark December contract LCZ25 set a near two-month high.
Benchmark December live cattle futures LCZ24 on the Chicago Mercantile Exchange climbed to their highest in nearly two months on Tuesday, supported by technical buying and a rosy outlook for beef demand tied to strength in Wall Street equity markets, analysts said.
Chicago Mercantile Exchange live cattle and feeder cattle futures jumped on Thursday as traders adjusted positions ahead of the U.S. Department of Agriculture's monthly cattle on feed report and saw strong U.S. export demand, according to analysts.
Chicago Mercantile Exchange lean hog futures ticked up on Wednesday as pork cutout values remained strong and a weaker dollar made U.S. exports more competitive, traders said.