Cattle Futures - Live Cattle Climb
US - CME live cattle settled higher on strong wholesale beef demand, confidence about this week's potential cash cattle results and fund buying.Packer bids for live-basis fed cattle remain at around $88 per hundredweight while cattle feeders dig in at around $93 to $94.
The U.S. Department of Agriculture's midday boxed beef wire on Thursday showed choice cuts up another $0.78 per hundredweight and select items rose $1.12.
Later, February and April live cattle contracts lunged upward after both month options surpassed Wednesday's highs. Front-months' rush of momentum eventually drafted deep cattle months that had traded cautiously for most of the session because of CBOT corn's retreat.
Source: FXSTREET