DJ CME Cattle Review: Most Live Cattle Dn, But Apr Sets New High
CHICAGO - Most Chicago Mercantile Exchange live cattle futures on Monday finished weak on spreading out of back months into April that, along with cash optimism for this week, drove April to a 102.92-cent new contract high.
13 March 2007
1 minute read
Boxed beef's recent surge and short covering further elevated April while far months lagged in part due to buyer apathy.
Nevertheless, Chicago Board of Trade corn's steady erosion throughout the morning at times cushioned declines and briefly nudged some contracts into positive trading territory where willing sellers awaited.
And the day-four of the Goldman Roll found longs shifting some of their April positions into June in accordance with Goldman Sachs Commodity Index guidelines.
April closed up 57 points at 102.02 cents a pound and in the bottom half of the trading range. June ended down 17 points at 98.42 cents, near a session low and outside Friday's top and bottom.
Source: FXSTREET.com
