Livestock markets faced headwinds during Wednesday's session as Live Cattle futures retreated from a 3-week high. Virginia McGathey notes that fundamental support has been difficult to establish, leading to a 2.40 drop in futures prices. June Live Cattle reached a low of 232.37, while the CVOL index sits at 16.7%.
Feeder Cattle futures also trended lower, influenced by packers holding back in the cash market. This lack of activity pressured the futures market, with the May contract experiencing a wide 4.85 trading range. CVOL for Feeder Cattle reached 19% as the market sought a floor.
In the Lean Hog futures complex, prices were mixed. Tight supplies provided a counter-balance to a weaker cash market, resulting in increased competition between buyers and sellers. While futures traded on both sides of the previous close within a 2 range, the market finished nearly unchanged.
Learn about trading futures and options at CME Group:
https://www.cmegroup.com/markets/agriculture.html
#Livestock #Cattle #Futures
Feeder Cattle futures also trended lower, influenced by packers holding back in the cash market. This lack of activity pressured the futures market, with the May contract experiencing a wide 4.85 trading range. CVOL for Feeder Cattle reached 19% as the market sought a floor.
In the Lean Hog futures complex, prices were mixed. Tight supplies provided a counter-balance to a weaker cash market, resulting in increased competition between buyers and sellers. While futures traded on both sides of the previous close within a 2 range, the market finished nearly unchanged.
Learn about trading futures and options at CME Group:
https://www.cmegroup.com/markets/agriculture.html
#Livestock #Cattle #Futures