CME Live Cattle rebounds as tight U.S. supply remains supportive
🐄 December Live Cattle futures on CME rose 1.24% to 222.175 cents/lb after the September 23 session, while the October contract gained nearly 1%. The move was mainly supported by expectations of continued supply tightness.
📉 USDA data showed August feedlot placements at 1.617 million head, down 9% year over year and the lowest August level since 1996. Estimated cattle slaughter on September 23 was also around 94,000 head, below the previous week.
🥩 Demand signals were less supportive, however, as both Choice and Select boxed beef prices declined while cash cattle trade remained relatively thin.
📊 For now, the move looks more like a rebound within the existing range, while constrained supply continues to provide medium-term support.
#Commodities $SUI
🐄 December Live Cattle futures on CME rose 1.24% to 222.175 cents/lb after the September 23 session, while the October contract gained nearly 1%. The move was mainly supported by expectations of continued supply tightness.
📉 USDA data showed August feedlot placements at 1.617 million head, down 9% year over year and the lowest August level since 1996. Estimated cattle slaughter on September 23 was also around 94,000 head, below the previous week.
🥩 Demand signals were less supportive, however, as both Choice and Select boxed beef prices declined while cash cattle trade remained relatively thin.
📊 For now, the move looks more like a rebound within the existing range, while constrained supply continues to provide medium-term support.
#Commodities $SUI
