TheCattleSite.com - news, features, articles and disease information for the cattle industry

News

CME update: strong cash markets boost cattle futures

06 October 2020

US live cattle futures gained ground on 5 October on expectations that cash prices will remain advantageous.

Reuters reports that cash cattle prices are expected to rise $1 to $2 per cwt this week as packers increase their slaughter pace said Brian Hoops, president of commodity broker Midwest Market Solutions. Fat cattle last week traded in the US Plains at $107 per cwt, up about $2 from the previous week.

Meatpackers slaughtered an estimated 119,000 cattle on Monday, up from 118,000 a week ago and 118,000 a year earlier, according to the US Department of Agriculture.

"They're going to have to pay up for the cash markets," Hoops said.

Chicago Mercantile Exchange October live cattle rose 0.650 cent to 108.825 cents per pound and most-active December ended up 0.650 cent at 111.750 cents.

CME November feeder cattle edged up 0.050 cent to 139.925 cents per pound.

Read more about this story here.

Source: Reuters



Partners


Seasonal Picks

Managing Pig Health: A Reference for the Farm - 2nd Edition