Cattle Futures - Most Live Cattle Up; Feeders, Hogs Fall

US - Nearby Chicago Mercantile Exchange live cattlefutures settled higher Monday in light-to-moderate volume amid June liquidationand position-rolling.
calendar icon 19 June 2007
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Feeder cattle, lean hogs and belly futures closed lower.

Both moves in live cattle futures were seen as those that would get tradersout of their exposure to the June contract, which expires at the end of themonth. Traders and brokers said this involved liquidating a June positionoutright or rolling into August or another trading month.

A floor trader said the rally in nearby contract months was on limitedvolume, so he wasn't excited about the prospects for continued strength butwanted to see higher prices on a high-volume day.

At the close, June live cattle were at 90.62 cents a pound, up 7 points,while August was up 30 points at 91.25 cents. August feeder cattle were down 22points at 106.72 cents a pound, and September ended at 106.77 cents, down 57points.

The October and December contracts were supported by followthrough buyinginterest from Thursday's reversal day, a broker said. Support also came fromshort-term seasonal tendencies, the broker said.

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