Chicago Mercantile Exchange live cattle on Monday lost ground for a second straight session, hit by technical selling and the "roll" by funds out of June into deferred contracts, traders said.
Chicago Mercantile Exchange live cattle futures tumbled 2 percent or more on Monday, with the front-month June contract falling by its 3.000 cents per pound daily limit in a technical selloff, traders said.
After losing so much, families affected by the wildfires sweeping across western Oklahoma may be feeling emotionally overwhelmed, which raises the need to pay attention to potential mental health concerns.
Chicago Mercantile Exchange live cattle hit a two-week high on Thursday, driven by short-covering and futures’ discounts to this week’s prices for slaughter-ready, or cash, cattle, said traders.
Chicago Mercantile Exchange lean hog futures rallied more than 3 percent on Monday in a short-covering and bargain-buying rebound from life-of-contract lows posted last week, traders said.
Chicago Mercantile Exchange lean hog futures finished lower on Friday, hit by the "roll" by funds into deferred months and uneasiness over North American Free Trade Agreement (NAFTA) talks, said traders.
Chicago Mercantile Exchange live cattle tumbled to a six-month low on Monday as a glut of animals at U.S. feedlots fueled concerns about plentiful beef supplies into the fall, traders said.
Chicago Mercantile Exchange live cattle turned lower on Friday after profit-taking and fund liquidation gave back some of the market’s gains over the past two days, said traders.
Chicago Mercantile Exchange live cattle settled higher on Tuesday, helped by short-covering and fund buying that halted the market's two-session slide, traders said.
Chicago Mercantile Exchange live cattle closed moderately higher on Tuesday, following late-day short-covering and bargain hunting after three sessions of losses, said traders.
Chicago Mercantile Exchange lean hogs on Wednesday slid from a one-year top earlier in the session, rattled by fund selling and Canadian government concerns over NAFTA talks with the United States, said traders.
America’s agricultural economy is bracing for yet another hit as Tropical Storm Barry barrels toward Louisiana, with grain elevators, cotton fields and cane crops in its projected path.
Chicago Mercantile Exchange live cattle nearby contracts on Wednesday were weakened by funds that sold, or "rolled," June positions into back months ahead of similar moves early next week, said traders.
U.S. livestock futures were mostly higher on Wednesday, with both cattle and hogs recovering from recent lows on bargain buying and positioning ahead of government supply data, traders and analysts said.
