Cattle Futures Drop As Options Expire

An article on Beef Magazine

Live and feeder cattle futures finished the last two sessions of last week on an odd note. August live cattle traded mostly sideways to begin the week before launching higher on Wednesday as packer bids increased to $235 per hundredweight, up from $230 bids noted earlier in the week. The August contract settled $2.225 higher on Wednesday at $234.175 per hundredweight. Wednesday’s gains were completely wiped out on Thursday with August settling $2.95 lower to $231.225 per hundredweight, yet cash trade had commenced Wednesday afternoon, trading fully at $235 per hundredweight on large volume with bids renewed Thursday morning at $235 as packers were looking to secure additional head.

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