Cattle Futures - Live Cattle Firm
US - CME live cattle closed firm on short covering, pre-weekend position evening and April/June bull and June/August bear positioning. The spreads limited June's advances but offered added spot April and August backing.
7 April 2008
1 minute read
And, while spot April traders attempted to price in leftover cash cattle based on Thursday's futures advances, front months at times retreated after they approached technical resistance barriers.
At one point, live cattle contracts drifted into bearish trading territory partly because of uncooperative wholesale beef movement.
USDA's Friday midday boxed-beef quotes showed choice cuts down $0.54 per hundredweight and select items slipped $0.49.
Source: FXSTREET
