Cattle futures jumped at the Chicago Mercantile Exchange on Thursday on concerns over frigid temperatures that threaten U.S. herds, analysts said.
Lean hog futures also finished higher
Deferred live cattle futures and feeder cattle futures finished stronger
No sales the first week of 2024 as markets assess inventory, plan strategy
Lean hogs rose on hopes that U.S. cash prices had reached bottom
Live cattle slipped somewhat but ended the week up 1.2 per cent
Packers losing money processing beef due to tight supply
The program, launched in 2017, came up for its five-year review in 2022
Large supplies of hogs continue to pressure futures, analysts said
Feeding margins have moved into negative territory, setting a negative tone for replacements
China's beef purchases supports live cattle