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CME update: live cattle futures reach highest price since 20 August

08 October 2020

US live cattle futures gained on 7 October but feeder cattle prices saw uneven trading.

Reuters reports that CME October live cattle futures rose 0.975 cent to 110.175 cents per pound and reached their highest price since 20 August. Most-active December cattle rose 1.150 cents to 113.100 cents.

CME November feeder cattle fell to their lowest price since 2 July before rebounding to close up 0.350 cent at 137.875 cents per pound.

Traders on Thursday 8 October will assess weekly USDA export sales data for Chinese demand. A fatal pig disease has created a domestic meat deficit in China, the world's top pork consumer, and increased the need for imports.

Read more about this story here.

Source: Reuters


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