BusinessCattle Futures Rise on Higher Beef Prices and Technical Buying
Cattle futures at the Chicago Mercantile Exchange rallied due to rising wholesale beef prices and technical buying. The market was supported by expectations of steady consumer demand, a drop in crude oil prices, and reduced chances of a Federal Reserve interest rate hike. Wholesale beef prices and packer margins increased sharply, with December live cattle futures reaching a three-week high of 224.100 cents per pound.
Mint Markets··Chicago



