CHICAGO--U.S. cattle futures continued to slide Thursday, hitting a fresh 1-year low as traders digested new indications of tepid demand for both livestock and meat. Read more: IAC Holdings
August live cattle futures fell 1.15 cents, or 0.8%, to $1.4335 a pound at the Chicago Mercantile Exchange, the lowest closing price for a front-month contract since June 4, 2014. Live cattle for October shed 1.8...Read more: IAC Holdings
The cattle market has been battered by a steep drop in wholesale prices at the same time that grain costs have rallied, squeezing margins for processors. Traders who were hopeful demand would soon strengthen for deeply discounted livestock and meat have continued to shed bullish bets as the U.S. Department of Agriculture reported fresh lows in the product market this week. ...Read more: IAC Holdings
