U.S. Cattle Futures Turn Higher on Short-Covering
13 February 2016 - 02:37AM
Dow Jones News
By Kelsey Gee
CHICAGO--U.S. cattle futures turned higher Friday, as investors
lift bets on prices falling further, after prices traded in a wide,
volatile range this week.
Signs of sluggish buying interest for livestock and beef sent
futures to the lowest levels in three weeks on Thursday, pressured
by reports of cash market sales at lower prices compared with what
producers received last week. Short-covering is giving the market a
boost Friday, as traders consolidate near-term wagers.
February live-cattle futures picked up 0.3 cent, or 0.2%, to
$1.30425 a pound on the Chicago Mercantile Exchange. Cattle futures
for April rose 0.575 cent to $1.3010 a pound. Feeder-cattle futures
for March advanced 1.275 cents to $1.51525 a pound.
Hog futures are mixed, as the front-month contract nears
expiration. February hog futures rose 0.375 cent to 65.90 cents a
pound. April hogs fell 0.1 cent to 69.35 cents a pound.
-Write to Kelsey Gee at kelsey.gee@wsj.com
(END) Dow Jones Newswires
February 12, 2016 10:22 ET (15:22 GMT)
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