Chicago Mercantile Exchange live cattle futures jumped their 3.000 cents daily price limit while feeder cattle also rose sharply as traders exited short positions on expectations for higher prices in cash cattle markets
The latest global meat trade estimates from the USDA Foreign Agricultural Service indicate that beef production and consumption among major beef countries is growing in 2016 and is projected to grow additionally in 2017
U.S. live cattle futures fell the most in 1-1/2 weeks on Wednesday in a selloff linked to lackluster demand from meat packers and government data that showed the lowest wholesale beef prices in four years, traders said.
U.S. live and feeder cattle futures climbed more than 1 percent on Monday, adding to gains in the previous session, on technical buying and expectations cattle and beef prices will rise seasonally, traders and analysts
This week USDA increased their forecast of 2016 beef production by 0.1% and increased their beef production forecast for 2017 by 0.3%. They now expect 2017 beef production to be 3.7% higher than this year and this year
Chicago Mercantile Exchange live cattle futures rose more than 1 percent on Friday, boosted by short-covering as traders took profits on bearish bets after prices fell to six-year lows in the previous session.
What about beef production accounting for only 1.9 percent of total U.S. Greenhouse gas emissions? By comparison, transportation and electricity accounted for 25.8 percent and 30.6 percent of total U.S. greenhouse gas e