Theopolis Waters

CHICAGO, Aug 24 (Reuters) – Chicago Mercantile Exchange live cattle settled higher on Thursday after short-covering and bargain buying rescued futures from a nine-month low earlier in the session, said traders. Technical buying and positioning before the U.S. Department of Agriculture’s monthly Cattle-On-Feed report on Friday provided more market support. August, which will expire on […] Read more

CHICAGO, Aug 23 (Reuters) – Chicago Mercantile Exchange live cattle futures on Wednesday hit a nine-month low for the fourth time in the past five sessions, led by seasonally soft wholesale beef demand and lower initial cash prices, said traders. Fund liquidation contributed to declines after deferred contracts slipped below key technical support levels, they […] Read more

CHICAGO, Aug 22 (Reuters) – Chicago Mercantile Exchange live cattle futures on Tuesday settled higher for the first time in five sessions, spurred by short-covering and bargain buying, said traders. Some contracts punched through key technical resistance barriers, which triggered fund buying and pre-established buy orders. August ended 0.725 cent per pound higher at 106.725 […] Read more

CHICAGO, Aug 21 (Reuters) – Chicago Mercantile Exchange live cattle futures eased to their lowest level in nine months on Monday as the seasonal supply build-up pressured wholesale beef prices for a third consecutive session, traders said. They said bullish traders worried that plentiful cattle numbers might again result in lower prices for slaughter-ready, or […] Read more

CHICAGO, Aug 18 (Reuters) – Chicago Mercantile Exchange live cattle futures pared losses on Friday after falling to its lowest level in 9 months, led by this week’s steep cash price drop and seasonally downward-trending wholesale beef values, said traders. Bargain buying and traders covering their short positions lifted contracts from session lows, and futures […] Read more

CHICAGO, Aug 16 (Reuters) – Chicago Mercantile Exchange live cattle futures on Wednesday reversed some of Tuesday’s advances, led by fund liquidation and expectations for softer prices for slaughter-ready, or cash, cattle this week, traders said. “We obviously still see liquidation by funds that are still long the market,” West Oak Commodities analyst Tom Tippens […] Read more

CHICAGO, Aug 15 (Reuters) – Chicago Mercantile Exchange live cattle futures closed sharply higher on Tuesday, ignited by bargain buying after burdensome supplies recently sank the contract to eight-month lows, said traders. “Everybody was just overly bearish and we had lots of long liquidation by funds pushing the market down. So we’ve got to where […] Read more

CHICAGO, Aug 14 (Reuters) – Chicago Mercantile Exchange live cattle futures fell on Monday on expectations for lower prices for slaughter-ready, or cash, cattle this week amid ample supplies, traders said. The decline triggered pre-determined sell orders, and funds sold the October contract after it slipped beneath its 200-day moving average of 107.183 cents. August […] Read more

CHICAGO, Aug 11 (Reuters) – Chicago Mercantile Exchange contracts on Friday landed in positive territory for the first time in five sessions, helped by short-covering and bargain buying, said traders. “We’ve had a big down week. I think this a kind of dead cat technical bounce (temporary recovery) ahead of the weekend,” Midwest Marketing Solutions […] Read more

CHICAGO, Aug 10 (Reuters) – Chicago Mercantile Exchange live cattle futures fell for a fourth straight session on Thursday, dragged down by growing worries about hefty near-term supplies, traders said. “We’ve got more numbers (cattle) out here and more numbers coming, and that’s just a Damocles sword over this market,” said Top Third Marketing analyst […] Read more