Chicago Mercantile Exchange live cattle and feeder cattle futures crept higher on Tuesday as strong wholesale beef prices and a tight cattle supply compelled meatpackers to pay up for each head of cattle, lending support to the cash market and cattle futures, analysts said.
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.