CME live cattle firm on strong cash trade
Chicago Mercantile Exchange live cattle strengthened on Tuesday, underpinned by strong cash markets and tight supplies of market-ready cattle, though recession fears limit gains, traders said
by Christopher Walljasper – Reuters
“We saw some pretty strong cash trade in the western cornbelt yesterday,” said Alan Brugler, president of Brugler Marketing. “Our long-term bias is higher, until it becomes attractive to retain heifers on pasture.”
“We’re getting the normal seasonal decline but I think the board was anticipating a little more aggressive drop in the index, and then had to rally back”
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