Cattle Reach Record High

U.S. cattle futures closed at a record high last Monday after seven straight sessions in reaction to strong cash cattle and beef markets, traders said. October cattle peaked at 123.100 cents per lb. in Monday s pit trading, the highest ever for a lead contract and surpassing the previous high of 122.875 cents set in April. Nonetheless, a stronger dollar s surge and the lower stock market limited gains. Deflated consumer confidence in the world economy, and the higher dollar, might dampen domestic and foreign meat demand, traders said.

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