Chicago Mercantile Exchange live cattle futures were sharply higher, supported by the week’s strength in boxed beef and spillover from feeders as traders got ready for what was expected to be a bullish set of cattle on feed numbers. February was $262 higher at $116.72 and April was up $2.57 at $122.52.
Feeder cattle were sharply higher on the strength in beef and the drop in corn, along with pre-report position squaring. January was $1.37 higher at $137.25 and March was up $5.00 at $144.15.
