CME February 2024 live cattle with 10-, 50- and 100-day moving averages. (Barchart)

U.S. livestock: CME cattle drop on fund selling, beef demand concerns

Chicago lean hogs continue higher

Chicago | Reuters — Chicago Mercantile Exchange cattle futures dropped on Thursday after two sessions of gains, pressured by fund long liquidation and as higher corn feed prices and worries about demand for high-priced beef cuts hung over the market. Technical selling accelerated the break, the live cattle market’s sixth in the last eight sessions, […] Read more

(Photo courtesy Canada Beef Inc.)

U.S. livestock: CME cattle gain for second straight day after selloff

Chicago lean hog futures also firm

Chicago | Reuters — Chicago Mercantile Exchange cattle futures rose for a second consecutive session on Wednesday on short covering and follow-through technical and bargain buying after the market plunged to multi-month lows to start the week. Improving packer margins and futures’ steep discount to cash cattle prices also supported the market following the fund-selling […] Read more