Chicago Mercantile Exchange live cattle and feeder cattle futures stormed to contract highs on Friday, as tight U.S. supplies drove cash prices to records this week, traders said.
Chicago Mercantile Exchange live cattle and feeder cattle futures hovered near recent contract highs on Thursday as traders said cash prices galloped to new highs.
Chicago cattle and hog contracts fell across the board as U.S. advance gross domestic product data pointed to the first quarterly decline in three years.
Most Chicago lean hog futures slid on Thursday as the U.S. Department of Agriculture reported China had canceled 12,000 metric tons of U.S. pork exports in the week ending April 17.
Chicago cattle futures resumed their upward trajectory on Tuesday after Monday's dip, which had been influenced by threats by U.S. President Donald Trump to sack the Federal Reserve chair.