CME update: cattle contracts end in negative territory
Cattle futures on the Chicago Mercantile exchange closed lower on 12 April after hitting a 15-month high on 8 April.
13 April 2021
1 minute read
Reuters reports that the live cattle futures were pressured by follow-through selling as the market extended its retreat from a 15-month high the front-month contract hit on Thursday.
Feeder cattle also eased, with the May futures contract shedding 0.025 cents to 149.6 cents per pound.
"We have had a strong run and we are coming up a little bit short on fresh bullish inputs," said Matthew Wiegand, a risk management consultant and commodity broker at FuturesOne in Nebraska. "That creates a bit of an opportunity for profit taking in the absence of something to take us higher."
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Source: Reuters
