Chicago Mercantile Exchange cattle futures fell on Thursday after rising for four consecutive sessions, as traders booked profits and squared positions ahead of the U.S. Department of Agriculture's monthly Cattle on Feed report due after the market's close on Friday, analysts said.
Chicago Mercantile Exchange cattle futures rose for the fourth session in a row on Wednesday, as a continued tight supply of cattle and resilient consumer demand for beef boosted futures, traders said.
Cattle futures on the Chicago Mercantile Exchange were stronger on Friday, finding some support from fresh details on the U.S. Department of Agriculture’s plans to deal with new world screwworm.
Chicago Mercantile Exchange cattle futures retreated on Thursday in a profit-taking and technical setback after three sessions of gains and as disappointing weekly beef export sales data weighed on the market.