Cattle Futures - Live Cattle Uneven

US - Live cattle settled mixed as the market accounted for this week's cash cattle strength, near year-end positioning squaring and February longs' migration into the April contract.
calendar icon 31 December 2007
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Beef futures rose on the open spurred by Thursday's fed cattle gains, carryover buying and shorts pocketing profits as the month, quarter and year come to a close.

Cash cattle this week traded upwards of $93.50 per hundredweight on a live basis versus mostly $92 money last week.

Also, no deliveries posted by CME Thursday lured a few bulls to spot-December despite its looming expiration on Monday that will coincide with the day's abbreviated trading session.

December and February made further headway after both contracts cleared key technical resistance hurdles.


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