Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

LIVESTOCK-CME cattle futures extend rally but fail to set new highs

Published 2018-10-02, 03:39 p/m
© Reuters.  LIVESTOCK-CME cattle futures extend rally but fail to set new highs
LCc1
-

CHICAGO, Oct 2 (Reuters) - Chicago Mercantile Exchange live cattle futures LCc1 rose for the third day in a row on Tuesday, with the market still underpinned by the trade deal among the United States, Canada and Mexico, traders said.

But technical buying pulled prices from their highs and the market failed to take out the 5-1/2-month high hit on Monday.

CME October live cattle futures 1LCV8 settled up 0.300 cent at 113.975 cents per pound. Most-active December 1LCZ8 ended up 0.525 cent at 119.475 cents.

CME October feeder cattle 1FCV8 finished up 0.175 cent at 158.825 cents per pound.

CME October hogs 1LHV8 advanced 1.675 cents to 66.425 cents per pound, but December hogs 1LHZ8 slipped 0.700 cent to 59.150.

The nearby hogs contract, which has risen for three straight days, found technical support after dipping below its 10-day moving average.

But deferred contracts weakened on technical selling, with the most-active December contract easing after hitting resistance at the high end of its 20-day Bolinger range.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.