Chicago Mercantile Exchange cattle futures rose for the fourth session in a row on Wednesday, as a continued tight supply of cattle and resilient consumer demand for beef boosted futures, traders said.
Chicago Mercantile Exchange cattle futures retreated on Thursday in a profit-taking and technical setback after three sessions of gains and as disappointing weekly beef export sales data weighed on the market.
Chicago Mercantile Exchange live and feeder cattle futures hit contract highs for the second day in a row on Thursday as strong cash cattle prices and resilient consumer demand continued to fuel a rally, analysts said.
Chicago Mercantile Exchange live and feeder cattle futures hit contract highs on Wednesday as strong consumer demand for beef and another spike in wholesale boxed beef prices supported an ongoing futures rally.