Within the first buying and selling day of June, reside and cattle futures on the Chicago Mercantile Change made substantial beneficial properties.
The August reside cattle contract superior US$1.650 per hundredweight to finish the day at US$211, its highest shut since Might 13. In the meantime, the August feeder cattle contract surged by US$2.925/cwt. to shut at US$301.750, its highest ending worth since Might 14.
New buying and selling limits had been set for immediately, with reside cattle at US$7.25/cwt. (beforehand US$6.50) and feeders at US$9.25/cwt. (beforehand US$8.25).
As of Might 27, spec merchants in reside cattle futures and choices trimmed 1,271 contracts from the online lengthy place over the previous week at 131,293, stated the Dedication of Merchants report launched on Might 30.
The US Division of Agriculture reported an increase in wholesale boxed beef costs Monday afternoon, with alternative packing containers up US$0.25/cwt at US$366.34 and choose packing containers displaying a acquire of US$3.01/cwt at US$356.65.
July lean hogs added US$0.050/cwt. at US$104.975, its highest shut since Feb. 18.
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