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LIVESTOCK-CME live cattle hits 4-1/2-year high on strong cash, export markets

11/18/2021 | 05:26pm EST

CHICAGO, Nov 18 (Reuters) - CME Group cattle futures rose on Thursday, with the front-month live cattle contract hitting its highest since June 2017 on support from strength in the cash markets.

Rising overseas demand also lent support cattle futures after the U.S. Agriculture Department said that weekly beef export sales totaled 30,000 tones, the most since the week ended May 20.

CME's most-active February live cattle contract gained 0.85 cent to 137.25 cents per pound. The spot December contract rose 0.925 cent to close at 133.15 cents per pound.

CME January feeder cattle futures rose 2.45 cents to end at 161.375 cents per pound.

Wholesale boxed beef prices were weaker, with choice cuts dropping $1.90 to $276.57 per cwt and select cuts losing $1.15 to $262.91 per cwt on Thursday morning.

CME December lean hogs fell 1.075 cents to 75.1 cents per pound and February hogs ended up 0.15 cent at 83.3 cents.

USDA said that pork export sales totaled 30,100 tonnes, down from 36,900 tonnes a week earlier. (Reporting by Mark Weinraub Editing by Marguerita Choy)


ę Reuters 2021
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