CME update: US cattle futures dip as the second wave of COVID-19 increases
US cattle futures sank on 15 October as impending COVID-19 lockdowns in Europe threaten global meat demand.
16 October 2020
1 minute read
Reuters reports that CME December live cattle futures dipped 0.725 cent to 109.550 cents per pound, while CME January feeder cattle fell 1.225 cents to 132.100 cents per pound.
"We're highly dependent on demand," said Don Roose, president of US Commodities. "It looks like this next pandemic relief package is on hold until after the election, so the buying habits may be slowing down and the concern with COVID on the rise."
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Source: Reuters
