December Live Cattle futures closed sharply higher, reaching their highest close since August. Cheaper corn feedstock following a negative WASDE report helped spur the market's initial upward momentum. Although technical indicators such as the Relative Strength Index sit near 60%, the market remains below overbought territory. On the fundamental side, seasonal demand has experienced its expected slowdown but remains historically strong heading into the holiday season. Meanwhile, year-over-year slaughter numbers are down over 7%, reinforcing tight animal supplies despite higher slaughter weights.
FOLLOW THE MARKETS
Most Recent

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.