Cattle Futures - Most Live Cattle Firm
CHICAGO, US - Analysts and brokers called Chicago Mercantile Exchange live cattle open mostly firm Monday as traders factor in last week's cash trade, Friday's boxed beef rise and remaining Goldman roll business.
15 January 2008
1 minute read
The Goldman roll consists of funds moving some of their spot-February long positions into nearby-April in connection with the Goldman Sachs Commodity Index.
Monday is officially the last day for the roll that began on Jan. 8. However, residual Goldman roll activity is expected to linger through the middle of the week due to February's sizable open interest.
Live-basis fed cattle late last week sold for upwards of $92.50 per hundredweight that was a stark contrast to the prior week's $95.50 top.
February's step drop Friday was a result of traders who took into account the week-over-week cash disparity that could mean a spot-month comeback on Monday, a broker said.
