Cattle Futures - Live Cattle Flat-Weak

US - CME live cattle ended flat to weak on profit-taking, Goldman roll business and CBOT corn's setback.
calendar icon 13 May 2008
clock icon 1 minute read
Live cattle futures slipped at the start after longs claimed profits following recent board rallies that were fueled by fed cattle strength.

Cash cattle on a live basis last week moved at $91.50 to $94.50 per hundredweight, compared with $91 to $93.50 the previous week.

Meanwhile, some traders regarded Friday's steep climb to new monthly highs as a sell indicator on Monday. And concern about board premiums to cash expectations in the months ahead was another pressing back-month live cattle issue.

Live cattle participants are awaiting this week's cash developments as well as the U.S. Department of Agriculture's monthly cattle-on-feed report on Friday. Those in the pit are also expected to monitor boxed-beef values that before Monday's slight upturn recently came in generally mixed.

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